Wendy's Stock Is Falling Today: What's Going On?

Wendy’s Co. (NASDAQ:WEN) shares are trading lower Friday. Meritage Hospitality, one of the company’s largest U.S. franchisees, filed for Chapter 11 bankruptcy protection Thursday. Here’s what you should know.

Wendy’s shares are under pressure. Why are WEN shares declining?

Meritage Hospitality Files For Chapter 11 Bankruptcy

Meritage Hospitality, which operates 314 Wendy’s locations across 15 states plus a Bojangles restaurant and five independently branded stores, entered Chapter 11 proceedings Thursday. Since nearly all of its restaurants carry the Wendy’s name, the company said broader pressure on the chain has directly strained its own finances, CNBC reported.

Meritage CEO Bob Schermer Jr said store-level earnings sank nearly 50% in 2025, driven by rising beef prices and heavier discounting. The company sa...