American Securities Capital will not be buying California Pizza Kitchen, according to the NY Post. Last week, the private equity firm had been interested in the casual pizza chain, but the sides reportedly can't reach an agreement.
California Pizza Kitchen announced its intent to explore the option of selling last April.
From the story:
It’s not clear if CPK is now in discussions with any other suitors in its four months-long attempt to find a buyer.
Remigio, the owner of the casual dining chain Italianni’s, filed a lawsuit this week in Los Angeles against CPK, claiming it has been interfering with its contract to open restaurants in Mexico.