Priszm
| Public | |
| Industry | Restaurants |
| Headquarters | Vaughan, Ontario, Canada |
Number of locations | 446 |
Area served | British Columbia, Alberta, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia |
| Revenue | C$450 million |
Number of employees | 9,000[1] |
| Website | www.priszm.com |
Priszm LP was the largest operator of Canadian fast food restaurants. The Priszm Income Fund, an income trust, owns 60.2% of Priszm.
Priszm was one of the largest franchisees of Yum! Brands in the world, owning over 446 restaurants of various Yum!-owned chains in Canada, namely KFC, Pizza Hut, Taco Bell, and WingStreet. The majority of its locations were KFC restaurants, some of which are co-branded with the Taco Bell and Pizza Hut brands. Priszm was also responsible for KFC's national marketing and promotions within Canada from 2003 to 2009.[2] The close relationship between the two companies extends to sharing the same Canadian headquarters in Vaughan, Ontario.[3]
All stores have been sold to date and Priszm closed its operations in late 2012.
Following the completion of the Hi-Flyer sale, 52 locations (51 locations in Quebec and 1 in Alberta) still remain in Priszm portfolio until a suitable buyer can be found
On May 18, 2012 Priszm sold 57 restaurants located in Alberta and Manitoba to Hi-Flyer Food (Canada) Inc. ("Hi-Flyer"), a Canadian subsidiary of a pre-existing KFC franchisee in the Philippines.
One Sept 18, 2011 Priszm sold 43 restaurants located in the Maritime Provinces to FMI Atlantic In.
On May 31, 2011 Priszm sold 204 stores in Ontario & British Columbia along with 4 stores in Quebec to Soul Restaurants Canada Inc. who owns Soul Food Group of the United Kingdom. In this sale they closed 30 locations that were under performing in those markets.
On March 31, 2011, Priszm went into bankruptcy protection in Ontario and British Columbia, Canada.[4]
On May 6, 2011, Priszm Income Fund will be delisted from the Toronto Stock Exchange for failure to meet the continued listing requirements.[5]
On October 15, 2012, Priszm announced plans to cease operations and close all restaurants across Canada by mid-2013.
References
- ↑ "Company Profile for Priszm Income Fd (CA;QSR.UN)". Retrieved 2008-10-15.
- ↑ Priszm to transition responsibility for KFC Canada marketing back to Yum! Canada, Priszm press release, December 14, 2009, accessed June 11, 2010
- ↑ Due to Yum requiring all KFC stores be renovated, despite a lack of sales growth, its Board of Directors ultimately decided to sell off its stores and wind down the business. f=q&source=s_q&hl=en&geocode=&q=101+Exchange+Avenue,+vaughan,+on&sll=43.787919,-79.52282&sspn=0.020912,0.046692&ie=UTF8&hq=&hnear=Exchange+Ave,+Vaughan,+York+Regional+Municipality,+Ontario,+Canada&ll=43.787903,-79.533291&spn=0.004694,0.023346&t=h&z=16&layer=c&cbll=43.787911,-79.533287&panoid=7d0xVY4MSZW77Qu87lAJVw&cbp=11,161.75,,1,-2.01 Google Street View of 101 Exchange Avenue, Vaughan ON
- ↑ Sacha Peter, "Priszm Income Fund Declares Bankruptcy", http://divestor.com/2011/04/01/priszm-income-fund-declares-bankruptcy/, April 1, 2011
- ↑ TSX Delisting Review - Priszm Income Fund (QSR.UN and QSR.DB), TSX press release, April 6, 2011