A significant franchisee for a popular national fast food restaurant chain has filed for bankruptcy. A California-based franchise owner for 65 Carl's Jr. locations filed for bankruptcy on April 2, according to QSR.
Harshad Dharod, who is the founder of the company Friendly Franchisees Corporation, owns 65 Carl's Jr. restaurants in California.
Dharod owns several companies, and he is seeking "joint administration" of the group of companies. The group includes Third Star Investments, LLC, Sun Gir Incorporated, Harshad & Nasir, Incorporated, DFG Restaurants Incorporated, Senior Classic Leasing, LLC, and Second Star Holdings, LLC.
The About page on the Friendly Franchisees Corporation website shares that Dharod came to the U.S. from India as a teenager to pursue an education in medicine.
He began working in the kitchen at a Jack in the Box restaurant, and a few years later, he became a franchise owner. Five years after that, he had 19 different Jack in the Box locations.
Eventually, Dharod sold his Jack in the Box restaurants and purchased other brands. In 2006, an article on Dharod shared on the website Franchising.com noted that he first developed a portfolio of Papa John's pizza locations.
Dharod also pursued a significant deal to become a franchisee of dozens of Carl's Jr. locations. They have been located primarily in Northern and Southern California.
He said, "That was probably the biggest and the best move I made in my life—becoming a part of the Carl's Jr. system."
Now, over 20 years after starting his Carl's Jr. franchisee journey, Dharod has filed for Chapter 11 bankruptcy protection, according to the website Restaurant Business.
The website received a statement from the franchisor stating they were aware of Dharod's filing. The company noted, "This situation is specific to this individual's financial and business circumstances."
Their statement continued, "This has no impact on the operations of any other Carl's Jr. locations and we remain committed to delivering quality experiences for our guests, while driving profitable, sustainable growth for our franchisees and the brand."
Restaurant Dive indicates that as of 2025, there were a total of 588 Carl's Jr. locations in California. The Carl's Jr. website indicates that nationwide, there are more than 1,100 locations across 14 states.
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