poster claims wendy's made owner buy overpriced promotional materials, food and royalties
I found this post for the Drudgereport article about the striking McDonalds emplyees...and SHAME ON Wendy's if it's true.......
"I owned 13 fast food restaurants and had to file bankruptcy in 2001. I paid above minimum wage and provided health benefits.
The first thing the new owner did was reduce wages and eliminate health benefits.
The three groups who made money of off my plight was Wendy's International by taking Royalties and over charging me for food and promotion materials which I had to purchase to maintain my license. Sanwa Business Credit Corporation who changed our agreement at closing which caused me to pay 14.5% interest on $3,000,000 of debt instead of the 6% we had agreed to prior to closing. 8.5% interest on 3 million dollars was over $250,000/ year. And thirdly, the vendor Sysco Foods who set prices with Wendy's and rewarded the executives of Wendy's with perks in payment. Twelve years of this highway robbery cost me $3.5 million."
That's over 12 years ago. Sorry for your experience. I cannot imagine how emotionally draining that can be for you and your family. Hopefully, with new management and better CEO/CFO and vision, this will not occur with new franchise and existing franchise owners, so management should take note.