A new Whataburger location in Georgia has now been approved for construction increasing its number of chains in the east coast.
According to a report from ForsythNews, the Forsyth County Board of Commissioners unanimously approved a developer’s request to open a new 24/7 Whataburger to be located in Georgia.
“The Whataburger chain has been highly successful per most financial metrics, and now comes word that a new round-the-clock Georgia location has been approved for construction,” reports Joel Eisenberg.
ScrapeHero’s most recently updated restaurant location count states that “There are 970 Whataburger restaurants in the United States as of September 26, 2023.
The state with the most number of Whataburger locations in the US is Texas, with 715 restaurants, which is about 74% of all Whataburger restaurants in the US.”
Construction of the Whataburger location in Georgia is expected to be completed by early spring of next year.
The news comes around the same time it was announced 3 new In-N-Out Burger locations in California have now been newly approved for development.
According to a report earlier this month from USA Today, In-N-Out Burger is continuing its ambitious expansion in the state of California.
“Two stores will open in the company’s Southern California backyard, one in San Juan Capistrano and one in Perris.
There will also be a new store in the heart of the state in Madera,” said the report.
According to ScrapHero, “The state with the most number of In-N-Out Burger locations in the US is California, with 272 restaurants, which is about 69% of all In-N-Out Burger restaurants in the US.”
Also Read: California Now Has Massive Departures As Hundreds of Thousands Leave
Other Economy News Today
A popular mall retailer is now at high risk of bankruptcy as the company’s sales continue to drop and debt mounts.
Express is an American multi-fashion retailer known for its high quality apparel and rather high-priced items.
“Over the last few months, speculation has been mounting about apparel retailer Express’ financial state.
While some might speculate that one big thing has caused the retailer’s failure, that’s just not how bankruptcies work.
Several things have been going wrong over a prolonged period,” says Matthew Debbage, Creditsafe CEO of the Americas and Asia.
According to Creditsafe data, 35% of the company’s owed payments are past due, which amounts to over $3 million.
“On top of this, Creditsafe data reveals that the value of these late payments is well over $3 million.
While this might not seem like a big chunk of money compared to Express’ annual revenue, the fact that the retailer’s DBT (Days Beyond Terms) has increased consistently for the last six months indicates that its cash reserves are likely low, which will only drop even lower if sales continue to decline, operating costs keep rising and its debt load grows,” he continued.
“When you combine all these factors, I can see why some analysts are speculating that the company could be at high risk of bankruptcy.”
Debbage believes the company should be taking steps to prepare for a Chapter 11 filing (even if it ends up not needing one).
This will essentially help the company restructure its financials to keep its operations going.
“What Express needs to be thinking about right now is how it can cut operating expenses with a recession looming and consumer spending expected to drop significantly,” he wrote.
Also Read: A US Company Now Declares An Unexpected Bankruptcy
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Leave your thoughts below.