News

Ireland’s Four Star Pizza rescued by hotelier

February 22, 2011

Four Star Pizza, which is owned by Zowington and has locations throughout Ireland, has been bought by Gonville Ltd. after struggling with creditors since last year.

Gonville is owned by hotelier Michael Holland.

According to the Irish Times, the company was allowed to repudiate leases on a number of its outlets and renegotiate better terms with its landlords. This was a factor in Gonville’s decision to buy the pizza company.

High rents contributed to Zowington’s financial problems, forcing it to seek court protection from creditors in November. With the Gonville transaction, it is predicted most Four Star Pizza jobs will be saved.