News

Pizza Meter franchisees consider buyout of troubled chain

February 6, 2005

Haaretz International: Holders of Pizza Meter franchises may buy out the pizza chain, which filed for court protection from its creditors on Feb. 3.

The franchisees gathered on Feb. 5 to discuss their next steps.

On Feb. 3, Tel Aviv Court Judge Varda Alshech turned down Pizza Meter's request for court protection and scheduled a hearing for Feb. 9. (Read also, Judge denies Pizza Meter bankruptcy petition.) Meanwhile, the franchise holders' spokesman, Adani Dagan, said that they were examining all options, but were adamant about retaining their legal rights.

"Maybe we'll buy the chain," Dagan said. "But if someone comes and says, 'I want the chain, wipe out all the debts,' then we also want to have our say. Why shouldn't the court give us the chain?"

Read more ...