Fast food chain O’Brien’s Sandwich Bars told franchisees yesterday that businessmen Graeme Beere and Denis Desmond are to invest in the troubled business.
At the same time, it has emerged that there may be a legal question mark over two transactions under which franchises in the UK were transferred to a new company earlier this year.
O’Brien’s founder and chairman Brody Sweeney told franchisees that it had agreed terms with AIL Ltd for new investment in the business, which was placed under High Court protection from its creditors in July.
Mr Beere, who runs the Abrakebabra, Gourmet Burger and Bagel Factory franchises, and Mr Desmond, founder of promoter MCD, are the shareholders in AIL.
Mr Sweeney told franchisees that AIL will take ownership and management control of O’Brien’s in the Republic, while he will continue to be responsible for the business in the UK.