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Most typical franchise agreements involve the provision of support by the franchisor to the franchisee and will have a clause which gives the franchisor a right upon the insolvency of the franchisee to automatically or by notice bring the franchise agreement (and likewise the franchisors obligations to continue supporting such franchisee) to an end.
In such circumstances, unless able to fall within an exemption, the franchisor will (subject to the small entity exemption) be unable to enforce its termination clause against the franchisee and will need to instead rely on other provisions in the agreement that might assist to manage risk or bring the contract to an end. For example, see Q&A: What should be taken into account when drafting a contract for the supply of goods or services in light of statutory controls on rights in the event the customer is subject to an insolvency procedure including under the new
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