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Article: Many licensed outlets of the troubled O'Briens Sandwich Bars chain do not back Abrakebabra Investments' proposed takeover of the company's business in the Republic, the High Court heard yesterday.
- Article from:
- Irish Independent (Dublin, Republic of Ireland)
- Article date:
- September 29, 2009
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Almost half O'Briens outlets against takeover bid by Abrakebabra
courts
Ray Managh
Many licensed outlets of the troubled O'Briens Sandwich Bars chain do not back Abrakebabra Investments' proposed takeover of the company's business in the Republic, the High Court heard yesterday.
Wexford franchisee Michael Hayes, in sworn evidence on behalf of 29 franchisees, told Mr Justice Sean Ryan that suggestions to the contrary in the media and in the report of the examiner to O'Briens were incorrect. He said the franchisees believed the prospects for their business and their 457 employees would be better if the company went into liquidation. Mr ...