Owner of Aroma Cafe offers to manage Pizza Meter, backed by franchisees
Pizza Meter, which applied for court protection from creditors last week, asked the Tel Aviv District Court yesterday to transfer management of the chain to the owners of the Aroma Cafe chain.
Pizza Meter, which applied for court protection from creditors last week, asked the Tel Aviv District Court yesterday to transfer management of the chain to the owners of the Aroma Cafe chain. A court hearing on the fate of Pizza Meter - which has run up debts of NIS 16 million - is scheduled for today, where Judge Varda Alshech will decide whether to grant the chain bankruptcy protection. Alshech rejected the company's original request last Thursday.
Pizza Meter owns four outlets, and another 20 branches are run through franchise agreements. The franchise holders reached an agreement this week with Aroma owner Sahar Shefa where Shefa would manage the chain while examining the possibility of buying it. His experience would certainly be appropriate; Aroma is a chain of 40 cafes, all run as franchises.
Pizza Meter, however, proposed this week that businessman Amir Wolf run the chain, with a similar "buyer's eye." The franchise-holders dismissed this suggestion as "inappropriate."
In the hearing today, the court will have to choose between the two proposals, or permit other parties to step forward with the possibility of buying a slice of the pizza market.