Closing an unprofitable MI franchise

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Closing an unprofitable MI franchise

Anonymous Jun 1, 2015 Business 11 views 4 answers

We operate (own) a franchise through our two LLCs in MI; one owns the equipment and one does the operations (sales) for the franchise. We are unprofitable and need to walk away soon. Franchise does not allow liquidation of the franchise equipment so how do we avoid fraud by walking away and closing if we cannot sell the equipment using managed liquidation or bankruptcy?

Adam A StudnickiPersonal Injury LawyerScottsdale, AZ · Answer 1 · 2026-06-15T14:50:39+00:00

Adam A StudnickiPersonal Injury LawyerScottsdale, AZ

Adam A StudnickiPersonal Injury LawyerScottsdale, AZ · Jun 15, 2026

Talk to a local business lawyer who can review the franchise agreement and advise.

0 upvotes

Larry Powe · Answer 2 · 2026-06-15T14:50:39+00:00

Larry Powe

Larry Powe · Jun 15, 2026

The agreements must be reviewed by an attorney to give you legal advice. A consultation is a must!

0 upvotes

Mary Clapp · Answer 3 · 2026-06-15T14:50:39+00:00

You need to promptly seek the advice and counsel of a franchise lawyer. The franchise laws are complex, and your rights and obligations are not merely contractual. You need an attorney with significant franchise experience. I would recommend that you gather all of your documents, including the franchise disclosure document or ufoc originally provided to you, your franchise agreement, and any relevant recent communications and have a franchise lawyer promptly review them and consult with you. Please keep in mind that certain rights you may have can be lost through inaction over the passage of time.

Matthew J. KreutzerFranchise LawyerLas Vegas, NV · Answer 4 · 2026-06-15T14:50:39+00:00

I agree that you need to have your franchise agreement reviewed by an attorney for advice, but I would also suggest that you use an attorney or firm that has both franchising and bankruptcy expertise.

Closing an unprofitable MI franchise

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