All 107 stores in the Pizza Fan network across Greece are returning to full operations from tomorrow, Wednesday, 11 November, as the chain holds talks with two potential investors, one of whom appears to be significantly further advanced in negotiations.
The company itself announced the reopening in a LinkedIn post, saying that all stores will be open from 1pm and will take orders through its website, app, phone lines and partner platforms.
The announcement comes at a critical time for Pizza Fan, as it pursues a restructuring while also seeking an investor to take part in the company’s next phase.
The two processes are being treated separately, the company’s lawyer, Michalis Markoulakos, told Euro2day.gr. The restructuring concerns the settlement of tax arrears and other obligations, while the entry of a new investor is a separate part of the plan.
Talks with interested parties are under way, but no final agreement has been reached so far. Of the two potential investors, one is at a more advanced stage of discussions, according to Mr Markoulakos.
Pizza Fan is returning to Greece’s €300 million pizza market, seeking to protect its share after suspending operations across its network. The reopening of its 107 stores on 11 November reduces the risk of customers switching to competitors, but does not remove uncertainty about what comes next.
With total network sales estimated at more than €100 million, Pizza Fan is one of the biggest players in the Greek market. Domino’s, L’Artigiano and hundreds of independent pizzerias are competing for the same customers in a sector where promotions and low prices are key competitive tools.
Pizza Fan’s biggest test is no longer reopening its stores, but winning back orders, as well as retaining its franchise network while negotiations over the entry of an investor continue.