A recently concluded Live Auction conducted by National Franchise Sales brought in $4.86 million for the sale of seven El Pollo Loco Franchises.
The sale was conducted by National Franchise Sales in Newport Beach, CA.
Nearly forty individuals, representing sixteen different bidder groups were in attendance, as were representatives from the debtors, Pollo West Corp. and Mi Pollo, as well as representatives from the franchisor, El Pollo Loco.
The sixteen groups competed for the restaurants, with the highest and best bids for the units awarded to bidder groups led by Ai Ghomizadeh for 2 units, Mike Ara & Rosa Pinuelas for 2 units, and Moe Paak, Paul Hendifar, and Gurepreet Boparia for 1 unit each.
The sale is expected to be completed soon after Bankruptcy Court Approval.
The National Franchise Sales team consists of Asset Recovery Specialist Alan Gallup, NFS Vice President Michael Ingram, and NFS advisors Jeff Jones and John Lukac.
NFS has assisted in the asset recovery process for Lenders, Receivers, and Bankruptcies of several national brands, and has been assisting franchisees and franchisors in sale of their businesses since 1978.
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