Priszm Withholds Royalty Payment to Yum

TheGlobeandMail.com, “Priszm (QSR.UN-T0.14—-%) the once high-flying fast-food restaurant operator run by Toronto entrepreneur John Bitove, is facing a key deadline next week as it struggles to stay afloat in a sea of financial problems.”

“The troubled firm should know by Jan. 14 if it will be able to sell 232 of its more than 400 KFC, Taco Bell and Pizza Hut restaurants, in a deal that would generate about $46-million and help alleviate its financial woes. That’s the deadline for the purchaser, a numbered company that runs similar restaurants in Europe, to reveal if it is satisfied with its due diligence and has lined up financing.”