Four Star Pizza
Encyclopedia
Four Star Pizza is a fast food pizza company which operates throughout Ireland
. As of 2010 there are currently 39 outlets with plans to have another 10 opened by 2012.
The first outlet opened in 1986 and the chain has steadily grown, being present in most regions of Ireland.
Outlets vary from being both fully owned by the company, or owned and operated on a franchised
basis.
Recently the retailer has resisted the current economic trend, whilst a number of Irish and international business slow down or reverse expansion, Four Star Pizza has prospered, with the opening of 10 outlets during the economic downturn.
However, on November 15, 2010, both Four Star Pizza and its holding company, Zowington, applied at the High Court for protection from their creditors (examinership
), with Mr Justice Frank Clarke being told that both companies were insolvent and could not pay their debts. The creditors were reported as including National Irish Bank
(who are owed €4.9 million), an ingredients supply firm, a printing firm and the Revenue Commissioners. An interim examiner was appointed by the High Court.
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. As of 2010 there are currently 39 outlets with plans to have another 10 opened by 2012.
The first outlet opened in 1986 and the chain has steadily grown, being present in most regions of Ireland.
Outlets vary from being both fully owned by the company, or owned and operated on a franchised
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
basis.
Recently the retailer has resisted the current economic trend, whilst a number of Irish and international business slow down or reverse expansion, Four Star Pizza has prospered, with the opening of 10 outlets during the economic downturn.
However, on November 15, 2010, both Four Star Pizza and its holding company, Zowington, applied at the High Court for protection from their creditors (examinership
Examinership
Examinership is a process in Irish law whereby the protection of the Court is obtained to assist the survival of a company. It allows a company to restructure with the approval of the High Court....
), with Mr Justice Frank Clarke being told that both companies were insolvent and could not pay their debts. The creditors were reported as including National Irish Bank
National Irish Bank
National Irish Bank is a commercial bank in Ireland, one of the traditional Big Four. In December 2004 Danske Bank agreed to purchase National Irish Bank from the National Australia Bank for GB£967m ....
(who are owed €4.9 million), an ingredients supply firm, a printing firm and the Revenue Commissioners. An interim examiner was appointed by the High Court.