STRATEGIC PARTNERS
October 12, 2004
South Florida Business Journal: Canadian quick-service restaurant franchisor Afton Foods has retained Miami-based Capitalink investment bank to, among other things, help it sell its bankrupt business. (Read also 241 Pizza parent, Afton Foods, files for bankruptcy.)
Afton Food Group, which has declared its shares have no economic value, operates and franchises its 241 Pizza and Robin's Donuts. Recently the company received an extension to its Companies Creditors Arrangement Act (Canada) restructuring, now set to expire Dec. 13.
Management maintained that even an investor or investors able to help recapitalize Afton's balance sheet or buy the business will not add to the economic value of the shares.
