A large Subway operator declares bankruptcy

Dive Brief:

• MTF Enterprises, a Subway operator with 43 stores in Maine, New Hampshire, Pennsylvania and Virginia, filed for Chapter 11 bankruptcy protections last month, according to a court filing by the franchisee’s owner, Michael Fay.
• The operator accessed funding through short-term Merchant Cash Advance loans, which left it on the hook for a percentage of future sales.
• In October, one of the franchisee’s MCA lenders sent a notice to Stripe claiming MTF had…