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Equity group purchases Giordano’s

Posted on Monday, November 21st, 2011 at 8:09 pm    

The sale of pizza restaurant franchise Giordano’s was approved last week at the U.S. Bankruptcy Court for the Northern District of Illinois.  The sale comes less than a year after the Chicago-based “World’s Greatest Deep Dish Pizza” chain filed for bankruptcy.

Giordano’s will be purchased by a private equity group called VPC Pizza Holdings LLC for $52 million.  VPC is also purchasing the original Giordano’s property in Gold Coast for $16 million.

Officials in the bankruptcy case say they expect the sales to be finalized by November 30.

Currently, the pizza franchise only has locations in Illinois and Florida.  However, VPC expressed interest in expanding the brand into other states.

If you or someone you know needs assistance filing for bankruptcy, contact the Joliet bankruptcy attorneys of The Law Offices of Stuart B. Handelman by calling 815-722-2201 today.