Freddy's Bankruptcy: Just Another Sign You Can't Afford a Damn Thing Anymore
So, another one bites the dust. M&M Custard, a big Freddy's Frozen Custard & Steakburgers franchisee, just filed for Chapter 11. Dairy Queen Rival Files for Bankruptcy Newsweek's trying to get a comment, blah blah blah. Who cares what the corporate suits have to say? Let's be real, this is about way more than just one custard chain.
This year's been a freakin' bloodbath for restaurants. Bankruptcies, closures, sales tanking. And why? Because the average Joe and Jane are getting squeezed dry. McDonald's CEO Chris Kempczinski admits it – lower-income folks are ditching fast food. No freakin' surprise there.
Double-digit declines, he says? Give me a break.
Chipotle's seeing the same thing. Even Hooters is feeling the pain. It's a tough time for everybody, the Hooters CEO whines. Well, no , Sherlock.
It's the Economy, Stupid (and the Custard)
M&M Custard's blaming $27.7 million in liabilities. Liabilities, assets... it all boils down to one thing: people ain't spending. And why would they? Rent's sky-high, gas prices are a joke, and even a damn burger and custard is starting to feel like a luxury.
They say they've got $5.2 million in assets. That's cute.
M&M Custard filed for bankruptcy alongside 31 other "affiliate locations". Sounds like a domino effect to me. And get this: they expect to keep operating "normally" while they "reorganize." Yeah, right. That's like saying you're gonna keep flying the plane while you change the engine mid-air. Good luck with that.
They're gonna close some stores, offcourse. KCTV 5 reports that's part of the plan to crawl out of this mess. So, fewer jobs, fewer places to get your burger fix. Thanks, capitalism.
So, What's the Real Problem?
It ain't just Freddy's. Dairy Queen's been shuttering locations left and right, too. A legal battle over royalties and remodels? Seriously? While people are choosing between eating and paying rent, these guys are fighting over paint jobs and franchise fees.
This whole thing feels like a canary in a coal mine. Or maybe a melting custard cone in a bankrupt freezer. Either way, it's not a pretty picture.
The suits at McDonald's and Chipotle are blaming it on "consumer sentiment" and "economic headwinds." Translation: people are broke and pissed off. Unemployment, student loans, wages that can't keep up with inflation... it's a perfect storm of economic misery.
And they expect us to believe this nonsense, and honestly...
Another Day, Another Disaster
Look, I'm not an economist. I'm just a guy who likes a decent burger and doesn't like getting ripped off. But even I can see what's happening here. The middle class is getting hollowed out, and the fast-food chains are just the first to feel the pinch.
Maybe it's time to ditch the custard and start stocking up on canned beans. Just a thought.
