UK: MBO of Deep Pan Pizza frees City Centre's hands after three years
A management team, backed by Lloyds TSB bank, bought 49 of the 54 outlets of the loss-making Deep Pan Pizza chain yesterday from British parent City Centre Restaurants . The restaurant chain was opened in the mid-1980s, and by the end of last year it recorded a net asset value of £3.3m (US$4.79m) and losses totalling £300,000.
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