Bankruptcy of Franchises
The first decision to be made here is whether to remain a part of the franchise. This decision will direct all future decisions. This decision should be a purely financial decision based upon how much it costs to pay the franchise fees and whether the business could succeed without the franchise.
If the franchise chain is large and established, you will probably suffer signiicantly if you abandon the franchise. And large franchises have a lot to lose when then lose a franchisee - some will negotiate.
If the franchise is not well known, a talented graphic artist may be able to accomplish the same thing for you.