The future of the Four Star Pizza franchise in Ireland has been secured after a company called Gonville decided to purchase the Irish and UK franchise rights.
Gonville is the investment company owned by Irish entrepreneur Michael Holland.
Four Star Pizza, which has been in examinership since November, has 37 outlets across Ireland and has a workforce of about 400. The franchise had an annual turnover of €15m in 2009.
Gonville said a key element in its decision to buy the troubled company was its ability to repudiate the franchisees' leases through the courts and which were then renegotiated on better terms.
