Summary
M&M Custard, a large franchisee of Freddy's Frozen Custard & Steakburgers, filed for Chapter 11 bankruptcy. The company has $5.2 million in assets and $27.7 million in liabilities, and plans to continue operating while reorganizing its debts.
Key Facts
- M&M Custard filed for bankruptcy protection in Kansas.
- The company has $5.2 million in assets and $27.7 million in liabilities.
- M&M Custard operates dozens of Freddy's Frozen Custard & Steakburgers locations.
- The filing involves franchisees, not the parent company.
- The company plans to continue operations and pay its creditors.
- Economic challenges have affected many fast-food and restaurant chains.
- M&M Custard plans to close some stores during the bankruptcy process.
