Wendy's restaurants close in Fairbanks

In the news

Posted: Monday, October 31, 2005

FAIRBANKS (AP) — The former mayor of the Fairbanks North Star Borough has filed for Chapter 11 bankruptcy and closed her three Wendy's restaurants.

Rhonda Boyles said the deployment of more than 3,000 soldiers from Fort Wainwright, the rising cost of fuel and other circumstances led to her to close two restaurants in Fairbanks and one in North Pole.

''It's a sad day,'' Boyles said. ''I'm going to miss the employees, and more than anything the Wendy's International family after 23 years of involvement ... but change is always healthy and I'm happy to make the change.''

She filed Chapter 11 bankruptcy ''to assist in the orderly facilitation of assets in a sale,'' she said.

Wendy's International now has control of the properties, she said.

Boyles said financially the restaurants were running at ''break-even,'' with fuel costs nearly double, insurance costs rising, a shortage of hungry servicemen and other circumstances that challenged the business.

Boyles said turning over the property should be positive for Wendy's in the long run. The company sells only to owner-operators, she said.

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