Priszm

Priszm

Priszm was a Canadian fast-food restaurant operator. It was one of the largest franchisees of Yum! Brands in the world, operating KFC, Taco Bell, and Pizza Hut locations in Canada.

History

Priszm was established in 2003 as a result of a merger between Scott's Hospitality Inc. and Priszm Canadian Income Fund. The company was initially a subsidiary of Tricon Global Restaurants, which later became Yum! Brands.

Operations

Priszm operated over 400 KFC, Taco Bell, and Pizza Hut locations across Canada. The company's restaurants were located in shopping malls, standalone locations, and non-traditional sites such as universities and airports.

Financial Difficulties and Bankruptcy

In 2011, Priszm filed for bankruptcy protection under the Companies' Creditors Arrangement Act (CCAA). The company cited declining sales and increasing costs as the main reasons for its financial difficulties.

Sale of Assets

Following its bankruptcy filing, Priszm sold its assets to various buyers. The majority of its KFC locations were sold to Soul Foods Group, a large KFC franchisee based in Ontario.

Dissolution

Priszm was officially dissolved in 2012. Its remaining assets were distributed to its creditors as part of the bankruptcy proceedings.

See Also

• Yum! Brands
• KFC
• Taco Bell
• Pizza Hut
• Companies' Creditors Arrangement Act

External Links

• Official Website (Archived)