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The wikipedia and other writes-up don't match my memory.
As I recall the deal, they were Wall Street'ed up about two
decades ago and then.. the money folk were about to do the
standard deal of grabbing all the assets and shutting
it down (something we've seen many a time).
However, someone in the system said "what the hell",
and told the franchise's that while the main company
was going bye bye, they could keep using the name
and run independently.
I was hands-on in this as... I helped the local
restaurant cut over its corporate "point of sale"
terminal and ordering system to a stand alone
with a regular DSL (!!!!) Internet connection.
So I know what they told me, and I know what I
did, yet the Wiki and other histories clash.
And so it goes.