Bankrupt Domino's Pizza Israel rejects top bidder

 
Feb. 18, 2004

JERUSALEM--Bankrupt pizza franchisee Domino's Pizza Israel has rejected the transfer of license rights to the Morag group, which wants to buy it out of bankruptcy.

According to Haaretz Daily, Dan Werner, one of Morag's owners, also is a partner in the Takdan company, which operates Sbarro in Israel.

The receiver, attorney Ronen Matari, had recommended awarding the license to Morag, which submitted a NIS 5.9 million bid (U.S. $1.2 million) to buy the assets of the bankrupt licensee, Omni Food Products, which runs 24-store Domino's Pizza Israel.

The denial likely will move Morag to withdraw its bid, the report said.

Domino's Pizza has told Matari it would like to see the license go to Asaf Greenberg and his associates. Greenberg was the general manager of Omni Food Brands during the past year and previously served as general manager of Domino's Pizza in Switzerland.

See related stories ...
* U.S. group may bid for Domino's Pizza Israel
* Receiver for Domino's Pizza Israel submits recovery plan
* New loan helps Domino's Pizza Israel stay open
* Bankrupt Domino's Pizza Israel set for sale
* Bank threatening to close 24 Domino's Pizza stores in Israel
* Israeli Domino's Pizza franchisee records third straight loss


Topics: Domino's Pizza


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