Safeguard Scientifics: Q1 Earnings Snapshot
On a per-share basis, the Radnor, Pennsylvania-based company said it had a loss of 5 cents.
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Fried chicken chains outperformed the rest of the dining sector in 2024, as restaurant visits increased 4.3%, while other types of quick-service and fast-casual restaurant chains saw 1.3% and 2.4% growth, respectively, according to The Food Institute. The largest fried chicken chains for sales in 2024 were Chick-fil-A, Popeyes, and Raising Cane's, according to Technomic. No. 1, 2, 3, Raising Cane's. Growth in chicken restaurant visits may have helped the leading dining chains for overall visits, but some franchisees and smaller chains still faced financial distress and had to file for bankruptcy in 2024. RRG Inc., a Popeyes franchise operator of 17 Georgia locations, in February 2024 filed for Chapter 11 bankruptcy as three failing locations drove down all of the operator's other restaurants. Related: Popular pizza and beer chain files for Chapter 11 bankruptcy Later in April 2024, Sticky's Holdings, the parent company of New York-based chicken fingers fast-food chain Sticky's, filed for Chapter 11 bankruptcy on April 25, 2024, to reorganize its business after suffering financial distress from reduced traffic following the Covid-19 pandemic, rising commodity prices, and lawsuits. Sticky's operated 12 locations when it filed its petition, with nine in New York and three in New Jersey. It had closed two locations in New York and one each in New Jersey and Pennsylvania. The dining chain said in June 2025 that it might need to close all of its locations. Image source: Getty Images Some of that economic hardship may have carried over to other chains as the parent company of the fried chicken fast-food restaurant Harold's Chicken of Homewood filed for Chapter 11 bankruptcy protection to reorganize its business and continue operating. De'nsite Inc., the Homewood, Ill.-based operator of the Harold's Chicken locations in Homewood, South Holland, and Olympia Fields, Ill., filed its Subchapter V petition in the U.S. Bankruptcy Court for the Northern District of Illinois on July 27, listing up to $50,000 in assets and $500,000 to $1 million in liabilities. Up to $50,000 in assets.$500,000-$1 million in liabilities. The petition indicated that funds would be available to distribute to unsecured creditors. The three De'nsite Harold's Chicken locations are not affiliated with Harold's Chicken Corp., whose website lists 47 Harold's Chicken locations in 10 states nationwide. The De'nsite locations are not listed on the Harold's Chicken Corp. website. De'nsite is co-owned by Brandon Leak and Valarie Leak, RL Consultants reported. Harold's Chicken Corp. did not immediately respond to a request for comment. A worker at the Homewood location confirmed that the three De'nsite locations are a part of a separate entity. Related: Beloved beer brand files Chapter 11 bankruptcy Harold's Chicken of Homewood opened its doors in 2010, according to the De'nsite website, followed by Harold's Chicken of South Holland, and Harold's Time Out Bar & Grill. The original Harold's Chicken Shack, which is not affiliated with the bankrupt De'nsite locations, was founded by Harold Pierce in an African-American neighborhood in Chicago on 39th Street. More Bankruptcy: Major iconic food brand files for Chapter 11 bankruptcyPopular Dairy Queen rival franchisee files Chapter 11 bankruptcyPopular vision care chain files for Chapter 11 bankruptcy Legal and social obstacles in the 1950s prevented Black-owned businesses from locating in Chicago's downtown or North Side, according to Original Harold's website. Pierce's restaurant chain became one of the few examples of a successful Black-owned fast-food chain that primarily served the Black community. Today, the founder's daughter, Kristen Pierce, is CEO of the corporation. The De'nsite website, however, includes a short biography of Harold Pierce, titled "The Legacy of Harold Pierce," but does not claim an affiliation between the two chains. Don't miss the move: Subscribe to TheStreet's free daily newsletter The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
