I like RFG, page-26

I can tell you that RFG are head on lease in most circumstances. And if they can't secure a signature on the FA. Rfg has re-signed the leases, even when through they dont know the intent of current franchisee. Franchisees give 30 days notice and walk away.
They have then tried to run as corporate stores. Even supplying themselves stock they cant make the stores stack up and they have closed at lease end. Issue they currently have is stores walking away with lease tails of 5 years plus. The tiny bank guarantee covers very little of that exposure.