In the continuing saga of the Cold Stone Creamery litigation effort, it appears that franchisees are searching for exit plans and an explanation of the NIACCF. The Franchise Hound was sent an email written by a lawyer who is involved in the process and sent to Coldstone franchisees and management.
The email, sent on July 16th, reads as follows:
Dear Cold Stone Creamery Franchisees,
The following statements constitute my opinion:
I. Introduction.
While I do not maintain such statistics, I would guess that I have received more communications from franchisees requesting assistance in structuring exit plans in the past month than I received all of last year–and it’s summer. Most of these franchisees say they have run out of cash, no longer have the inclination to sink additional savings into their underperforming stores or refuse to borrow another cent to support what they have come to realize is a certain loser. Each of them seems to agree on one thing, they have completely lost faith in Kevin Blackwell and Dan Beem.
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