Schafer and Weiner, PLLC Confirm Chapter 11 Case for South Carolina McDonald’s Franchisee

John Stockdale, Jr. successfully guided a McDonald’s franchisee through the chapter 11 process in the United States Bankruptcy Court for the District of South Carolina.  The franchisee operated eight McDonald’s franchises in Greenville and Greer, South Carolina.  The Plan provides for the sale of seven restaurants to the franchisor for an amount in excess of the fair market value of the restaurants. As a result of confirmation of the case and pending the sale of the restaurants, the equity holders will be relieved of millions in personal guarantee and tax liability while preserving more than 200 jobs.

John has meaningful experience in the restaurant space having previously represented debtors and unsecured creditors committees in cases involving single location restaurants as well as other McDonald’s and Happy’s Pizza franchises.