Yum! franchisee in Canada sells majority of units
After grappling with financial issues for months, major Yum! Brands Canadian franchisee Priszm Income Fund has closed 30 of its locations in Ontario and British Columbia, and has received court approval to sell 204 units to Soul Restaurants Canada Inc.
The sale, according to the Winnipeg Free Press, was worth $42.8 million.
Priszm owns more than 400 KFC, Taco Bell and Pizza Hut locations throughout Canada. It is seeking buyers for the remaining units.
Priszm has been restructuring under court protection from its creditors since late 2010.