So, Freddy's Frozen Custard & Steakburgers, the supposed "Dairy Queen rival," is staring down the barrel of bankruptcy thanks to one of its franchisees, M&M Custard LLC. Color me shocked. Actually, nah. I'm about as surprised as I am when I see another clickbait article about the lottery Powerball jackpot.
The article keeps calling Freddy's a "beloved restaurant chain." Beloved by who? Maybe the folks in Overland Park, Kansas, where M&M Custard is based. But let's be real, outside of the Midwest, does anyone actually lose sleep over Freddy's potentially shuttering a few locations? I mean, there's a Dairy Queen near me... and like five other ice cream places. I'm good.
M&M Custard, bless their hearts, filed for Chapter 11 protection, listing a cool $5.2 million in assets against a not-so-cool $27.7 million in liabilities. That's... not great, Bob. They're hoping a "restructuring" will magically make everything better. Which is corporate speak for "we're gonna try to squeeze blood from a stone and hope the courts let us stiff some creditors." Good luck with that.
They've got 32 Freddy’s locations listed in the filing, spread across Missouri, Kansas, Illinois, Indiana, Kentucky, and Tennessee. These are the ones potentially facing the axe. But, of course, they're "continuing to operate as usual" while they figure things out. Translation: keep buying those steakburgers, folks, because we need the cash flow to pay our lawyers.
Here's the thing: Freddy's itself isn't going bankrupt. This is just one franchisee going belly up. The article even admits the "damage will be limited." So, why the dramatic headlines? Oh right, clicks. Gotta get those clicks. Franchisee of Dairy Queen rival files for bankruptcy protection.
M&M Custard wants the court to let them keep using their current banking system. Which basically means they don't want anyone poking around too much. Smart move, I guess.
It all reminds me of that time I tried to fix my car with duct tape and a prayer. Spoiler alert: it didn't work. Sometimes, you just gotta face the music and admit you screwed up. But hey, maybe I'm being too harsh. Maybe there's a miracle turnaround in the works. Maybe pigs will fly.
Oh, and speaking of financial disasters, have you seen the zillow homeownership costs report lately? Yikes. I swear, trying to buy a house these days is like trying to win the lottery powerball jackpot; slim chance, and even if you win, you're still screwed by taxes.
The article mentions three coffee companies are also facing bankruptcy because prices are soaring. Is this the start of some kinda fast-food apocalypse? Will we all be forced to eat kale smoothies and contemplate the La Nina polar vortex winter forecast? I shudder to think.
Look, a franchisee screwing up doesn't mean the whole chain is doomed. It just means someone made some bad business decisions. And honestly, in this economy? Who hasn't? So, go grab a concrete from your local Freddy's (if it's still open), and chill out. The world's got bigger problems.
