M&M Custard, the franchisee of Freddy's Frozen Custard & Steakburgers, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Kansas last Friday (November 14), according to the Franchise Times .

The company, which operates 32 Freddy's locations in Illinois , Indiana, Kansas, Kentucky, Missouri and Tennessee, reported assets of $5.2 million and liabilities of $27.7 million owed to more than 100 creditors, confirming plans to close some of the restaurants in the court documents. M&M Custard was founded by Eric Cole in 2010, opened its first Freddy's location in Jefferson City, Missouri, in 2012, and operated up to 42 locations as of February 2024, according to a post shared on Cole's LinkedIn account at the time.

The company was an active de

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