Subway Franchisee Files Bankruptcy With $1.8 Million Debt

Cherry Butte Company, a Subway franchisee operating three stores in Dickinson, North Dakota, filed for Chapter 11 bankruptcy protection on July 21, 2026. This marks the second multi-store Subway franchisee to file for bankruptcy in two months, following MTF Subs, which operated 43 stores. Cherry Butte Company reported total assets of approximately $19,000 against total debt liabilities of around $1.8 million. The filing indicates that creditors have placed liens on the company's credit card and DoorDash receipts, effectively halting its cash flow by directing incoming revenue to creditors. This financial strain appears to be linked to declining revenues. In calendar year 2024, Cherry Butte Company's stores generated $2.67 million in gross revenue. This figure decreased to $2.34 million in 2025. As of the bankruptcy filing date in 2026, the stores had accumulated $1.15 million in gross revenue for the current year. The three affected Subway locations are situated at 455 12th Street W., 401 West Villard, Suite 106, and 2456 3rd West, all within Dickinson, North Dakota. The bankruptcy filing does not specify an immediate closure of these stores, but the financial situation raises concerns about their future operations and the broader impact on Subway's franchisee network.