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Business Rescue in franchising

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Business Rescue in franchising In the movie ‘Demolition Man’ Sylvester Stallone just awakened in the 21st century from a 40 year cryogenic sleep, is taken to a ‘fine restaurant’ for dinner. As they pull up at Taco Bell in the electric self-drive car, Stallone asks, "Taco Bell, is this a mistake?" To which his friend replies, "Not at all. Since the great franchise wars, all restaurants are now Taco Bell." By Juan Engelbrecht Since its inception franchising has been known for its conflicts between franchisee and franchisor and between brands, but to imagine a war between brands that resulted in a one franchise state as depicted in Demolition Man... In the previous issue we discussed the definition of ‘distressed business’ and the basics of the Business Rescue process as well as the rights of affected parties under Chapter 6 of the new Companies Act 71 of 2008 promulgated into law in May 2011. Until the introduction of the Consumer Protection Act...