Picurro Sold and Change Chain's Name. Ex-wife Buys.
OK. I've been followiing news on the Picurro Pizzaria Chain in Tucson, Arizona pretty closely and have made comments about this. The chain's namesake was indicted for soliciting sex from a minor. Sales at Picurro Pizzaria shops dropped off by 40% and franchisees sued for the right to terminate their relationship based on their interpretation of the morality clause in the franchise agreements that they had to sign.
Wiggin and Dana's Franchise Law Blog mentions today that the chain was sold to the Fresco Group on September 21, in which Picurro's ex-wife is a major shareholder. Inside Tucson Business quoted the Fresco Group saying, "“We want to make it clear that Peter Picurro does not play any role in this new company. This separate and new company, is our assurance to customers who may have stopped patronizing the pizzerias for that reason.” It has nothing to do with Pucurro, but the company was sold to Picurro's ex-wife and ex-partner, along with three other partners.
Hmmmm... Ex-wife and partner? This sounds like a case of smoke and mirrors. Well, at least the inflammatory Picurro name is gone, and they did say that Peter Picurro has no role with the network. The strategy worked well enough to have at least three old franchise owners agree to stay with the franchise system.
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