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Fast food business transfer, acting on the side of the franchisor (between €K500 and €K1,000)

On 19 November 2019

Dumas Structure, French lawfirm, assisted a fast food chain in the sale of one of its fast food restaurants (price range between 500 and 1,000 K) with the specificity of not transfering the salaried staff who has be reassigned to other restaurants of the seller. It is to be reminded that Under French law, a business transfer normally triggers the automatic and mandatory transfer of the salaried staff under Article L1224-1 of the French labour code. This therefore required that we put in place a number of measures to secure our client's sale.

Beyond the drafting of the transfer compromise and of the drafting of the reiteration act once the conditions precedent have been met, we collected all  the necessary information and documents which are specific to a restoration fund and are usually requested by the buyer, we ensured the accuracy of the statements made by the selling company in view of the analysis of the collected items to ensure that such selling company was not making any false statement and did not risk an exposure to legal proceedings thereafter, we responded to the buyer's requests which were justified, we coordinated the consultation of employees upstream under the Hamon Act, we set up the escrow account etc.

A business transfer in France is in fact a complex transaction because it involves many necessary successive steps for the sale to be valid and efficient.

Dominique Dumas, Managing Partner - Dumas Structure, Le Metropolitan, 13 ter Bd Berthier, 75017 Paris. Mail: Tel: 01 58 44 92 74.

#business lawyers #business attorneys #restaurants #business transfer #dumasstructure

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