UFood Restaurant Group, Inc. Announces Termination of Franchise Agreement with FL Operator
BOSTON--(BUSINESS WIRE)--UFood Restaurant Group, Inc. (OTCBB: UFFC), a franchisor and operator of fast-casual restaurants and nutritional product retail stores, today announced the termination of a 2005 franchise agreement with a franchisee operator in Florida. Because the franchisee missed his opening timeline, UFood has reclaimed the territory of Dade and Broward Counties in Florida.
“We have received significant interest in the market over the past 18 months, and we are confident that this territory will be a desirable market for future franchisees.”
George Naddaff, Chairman and CEO of the company comments, “We have received significant interest in the market over the past 18 months, and we are confident that this territory will be a desirable market for future franchisees.”
About UFood Restaurant Group, Inc.
Headquartered in Boston, MA, UFood Restaurant Group, Inc. is a franchisor and operator of fast-casual food restaurants with an integrated retail store that sells nutritional products for a dual revenue stream business. UFood Grill offers a healthy lifestyle alternative to consumers in the fast-casual restaurant space and is positioned to become a leading player in the “better-for-you” quick serve restaurant category. The Company is led by franchise innovator George Naddaff, who founded Boston Market and led the franchising of several companies including Sylvan Learning Center and Ranch*1. Mr. Naddaff has a veteran management team with a record of success in the franchise market. UFood is currently launching a growth plan to franchise nationwide with the assistance of spokesperson George Foreman.
For more information, please visit: http://www.ufoodgrill.com/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
