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Jesus Christ there's a fucking Wendy's here that has a sign up that they won't accept $50 or $100 bills. You know they have the cash flow. But as was said already, IT'S A THEFT DETERRENT! They only keep less than 50 bucks petty cash in the drawer, and drop everything else into a safe. So if someone comes in to rob the place (or a shitty employee decides to empty out the drawer on his last day) they get less than $50. In turn, that give the store the ability to only cash bills under $50.
It's really regular brick and mortar commerce, and if you don't get that, well...
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