Another multi-unit franchisee has filed for bankruptcy after using merchant cash advances to finance their business.
Geddo Corp., which operates 12 locations of the fast-casual burger chain Farmer Boys in California and Arizona, filed for bankruptcy earlier this month after taking out 40 merchant cash advance loans worth $5.2 million.
Geddo operates 11 restaurants throughout California, in cities like Orange, Lodi, Corona and Bakersfield…