McDonald’s, facing lawsuit by 77 Black former franchisees, launching $250 million initiative to attract more minority franchisees to the fast-food chain
A woman walk past a McDonald's restaurant in Times Square on Nov. 4, 2019 in New York City. - Kena Betancur/Getty Images North America/TNS

McDonald’s announced a $250 million, five-year initiative Wednesday to increase the number of minority-owned franchisees across the restaurant chain in the U.S. The program will seek to reduce upfront equity requirements and provide alternatives to traditional financing to help new franchisees from historically underrepresented groups join the McDonald’s restaurant system, the company said. “During a period of record performance, we must challenge ourselves — even more — to invest in the future,” McDonald’s President and CEO Chris Kempczinski said in a news release. “Today’s announcement to at...