On Dec. 13, 2023, the U.S. Bankruptcy Court of the Northern District of Alabama (Birmingham) approved the sales of four separate Burger King stores owned by Premier Kings in four separate sale transactions through an auction held Dec. 4, 2023. Premier Kings filed for Chapter 11 bankruptcy protection on Oct. 25, 2023, with David Baker, managing partner of Aurora Management Partners, appointed chief restructuring officer to the debtors.
Premier Kings was a franchise owner and operator of 186 Burger King quick serve restaurants across the Southeast. Aurora Management Partners operated the franchise in 2023 to achieve profitability and prepare the enterprise for sale through a 363 auction. The auction resulted in the sale of 150 restaurants in four separate sales transactions to the highest and otherwise best offers, with Mosaic Gold Crown Group purchasing units in the greater Atlanta region; Bulldog Restaurants purchasing units across central and south Alabama; RRG of Jacksonville purchasing units in and around Jacksonville, FL, Savannah, GA, and South Carolina; and Burger King Company purchasing units in the north Alabama region. All remaining locations are closed, subject to pending transactions, or the underlying leases have been rejected.
The Aurora Management Partners team managing the Premier Kings business and transition of the Southeast store units includes Laura Kendall, senior managing director; John Magee, director; Greg Baker, director; Blake Tillis, senior consultant; Ben Pendleton, senior consultant; and Nick Wright, consultant. Aurora Management Partners is currently serving as chief restructuring officer to Taronis Fuels and financial advisor to Tessemae’s in their respective Chapter 11 bankruptcy cases as well as serving as receiver to Davenport Aid Propco.
