Freddy's Franchisee Files Bankruptcy, Closes Chicago Stores
Update: 2025-11-20
Description
M and M Custard, a major Freddys Frozen Custard and Steakburgers franchisee, files for Chapter Eleven bankruptcy, closing eleven Chicago-area stores. The company, with assets between $5.2M and $27.65M, will keep 31 other locations open. CEO Eric Cole cites financial burden, lack of buyers, and Illinois regulatory environment as reasons for the closures.
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