A company that owns more than 400 KFC, Taco Bell and Pizza Hut franchises across Canada has been granted court protection as it moves to sell its restaurants to a European franchisee.
Priszm Income Fund obtained the order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act, the Toronto-based company said Thursday.
Priszm plans to sell 231 of the fast-food eateries in Ontario and British Columbia to U.K.-based Soul Restaurants Canada Inc.