PANAMA CITY, Fla.
— Panda Express Catering has secured $8 million in federal and state funds to relocate its Florida headquarters, ending months of speculation that the company would be sold.
The company said Friday that the move would allow it to focus on a new, “innovative” model of service that will bring “more flexibility and efficiency to our business and our people.”
Panda Express, which is based in Fort Lauderdale, Florida, has been in operation since 1994 and serves more than 500 restaurants in the Miami area and beyond.
It said it has received nearly $10 million in private donations to support the move.
Panda Express CEO Brian E. Fiedler said in a statement that he would continue to support his team in their new home and would remain in Florida to lead the company.
“The company has always been committed to providing exceptional customer service and we are honored to be part of a long-term relationship with Panda Express,” Fiedlers said in the statement.
The move comes amid a long fight between the company and its parent company, the China-based Panda Express Food Group, which acquired the Panda Express trademark in 2014.
Faced with increasing competition and low profits, the company’s board and management have struggled to find a solution to its woes, which include rising health care costs, a loss of local market share and a shift in the way restaurants are operated.
Panda has been struggling to find solutions to its problems.
Last year, it lost more than $1 billion in a one-year period.
The U.S. Food and Drug Administration approved a recall of Panda Express products in December.
That recall resulted in the deaths of five people and was blamed on Panda Express’ faulty packaging.
But the company said the problem was isolated to a single Panda Express restaurant in New York City.
The FDA later said it had received more than 2,700 complaints related to Panda Express.
In June, the FDA ordered Panda Express to recall its entire line of Panda products, saying the company had failed to provide the company with sufficient information about the problems that resulted in its recall.
Fieldler was replaced as CEO in January.
He said the company was now “fully focused on our core business” and that it had made a number of changes to its business and leadership structure.
The Panda Express company also said it would begin selling its own menu items and services, as well as the Panda brand, in the U.K. and other countries.
The announcement comes as the Trump administration is preparing to release a proposed budget that will include tax cuts for businesses that bring overseas profits back home.
The budget is expected to include an $800 million tax break for businesses with U.C. Berkeley-educated employees, an increase in the minimum wage to $15 an hour, and an end to the “gig economy” loophole, in which companies pay lower wages to workers abroad.
Trump said during his presidential campaign that he wanted to “put back all those jobs” and said his tax plan would be “a massive tax cut for American workers.”
He has also said that he will allow companies to repatriate profits earned abroad if they do so in “an orderly fashion.”
The White House said the budget would also include $1.2 trillion in infrastructure investments and $200 billion in tax relief for businesses, including a tax break that could allow them to repatriates profits earned in countries where they have operations.