The future of the Four Star Pizza franchise in Ireland has been secured following the decision of Gonville to purchase the Irish and the UK franchise rights.
Four Star Pizza, which was in examinership, has 37 outlets across Ireland and employs approximately 400 people.
Gonville is the investment company for Irish entrepreneur, Michael Holland, who also owns the Fitzwilliam Hotel in Dublin.
A statement from Gonville said a key element in its decision to purchase the franchise was the ability of the company to repudiate the leases of the franchisees through the court which were then renegotiated on better terms. The Four Star Pizza franchise had an annual turnover of €15 million in 2009.
Gonville will announce further details on its future plans and investment for Four Star Pizza if the Examiner’s Scheme of Arrangement is accepted by the court on Tuesday next.
