The Franchise Owner's most trusted news source

Log In / Register | Jun 19, 2018

One of Valvoline's Largest Instant Oil Change Franchises Files Chapter 11

A Valvoline Oil & Lube shop in KentuckyOne of Valvoline's largest instant oil change franchises, Great Lakes Quick Lube LLP, is filing bankruptcy after the franchisee has struggled to make profits since starting the business in 2004.

The company declared $10 million to $50 million in debt, with assets of $1 million to $10 million. Great Lakes once had 107 oil-change outlets. Since last June, however, it has closed 43, leaving it with 64 stores. Nearly half those are in Wisconsin, mostly in metropolitan Milwaukee. Great Lakes also has lube shops in Illinois, Iowa, Indiana, Missouri and Kentucky. The company employs 438 people. Great Lakes believes it will be profitable after restructuring its finances through bankruptcy, according to a motion included in the company's filing ... It says the company has "struggled with profitability" from the beginning. Nonetheless, Great Lakes continued to buy more Valvoline outlets, according to the motion. - Wisconsin's Journal Sentinel

No votes yet

About 20yearzee

20yearzee's picture

Public Profile

Former franchisee of three separate concepts, and at one time the largest franchisee of a well known franchise. I have spent millions of dollars to be educated by attorneys that have represented me (as well as the ones working for the other side!)