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This isn't exactly a new thing in the restaurant world. Investment group buys local operation, franchises the heck out of it, until it's stretched so thin it implodes. The history of the business is littered with such corpses. (Or zombies, that persist in a few locations or offshoot chains in other regions).

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Best recent example is Portillo's, a Chicago hot dog institution. Dick Portillio sold out, became a billionaire, expresses regrets for the transaction and wishes he hadn't sold, and the new PE owner has reduced quality across the board while maintaining margins through pricing power.

Vote with your dollars.

The guys who ran the Friendly's ice cream chain actually bought the company back from the PE group they'd sold it to, but it was too late, the damage was done. It still exists, but greatly reduced, a lot of locations closed.

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