Domino's Eight-Year Foray Into Italy Ends in Liquidation

Domino's Pizza's franchise in Italy has entered into liquidation, after a short-lived struggle to win over customers in the birthplace of pizza. From a report: A Milan-based judge opened liquidation proceedings for Domino's franchise partner, ePizza, last week, according to a filing with the local chamber of commerce seen by Bloomberg News. A court-ordered liquidation could result in a recovery for creditors of 5% of their exposure, according to a draft restructuring plan seen by Bloomberg News that was submitted last year by the Milan-based firm and its financial advisers. The last of Domino's 29 Italian branches closed last summer, ending a foray that began in 2015 with the U.S. brand touting pizza toppings that included pineapple and barbecue chicken, an unusual take in a country more accustomed to thin-crust margheritas. Over the years, the Ann Arbor-based fast-food chain's partner borrowed heavily for ambitious plans to open 880 stores.

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