Dallas-based Romano’s Macaroni Grill (a Brinker Intl restaurant) is buying four locations from a bankrupt franchisee. The locations are in San Francisco Bay (3) and Seattle (1). The parent company now owns all but five of its 200+ Romano’s Macaroni Grill restaurants.
There has been a movement of public companies selling corporate owned units to franchisees, but now I’m seeing more examples of franchisors acquire units from franchisees. The reason is probably driven mostly by low valuations of the acquired businesses.