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(FranchisePick.Com) Michael Probst, franchisor of the Cork & Olive wine shop franchise chain, has shuttered his eight company stores, closed the corporate headquarters and laid off 40 employees.
The nine Cork & Olive franchise owners had an emergency meeting this past Wednesday to figure out how they can survive the demise of their cash-strapped franchisor. The Orlando franchise owner has only been open for a week; other owners in Florida were preparing to open their stores when they got the news.
Read about the franchise problems at UnhappyFranchisee.Com
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Photo credit: shane9218 Licensed under Creative Commons license
1060 days ago
[...] Comments // (FranchisePick.Com) Yesterday, UnhappyFranchisee.com reported that the Cork & Olive Franchise Corp. had folded, that the eight company stores had closed, 40 employees had been abruptly laid off [...]
MJ,
Sixty isn’t that old. Mean people live forever…. But that would be a blessing if he were in jail.
I was right… a fly on the wall perhaps? Chapter 11 Michael. Your book is finished. Your in your 60′s… die already old man.
1431 days ago
[...] stories: Cork & Olive Wine Franchisor Folds; Franchisees Scramble to Survive, Cork & Olive Franchise Corp. Collapse: What’s the REAL Story?, What REALLY Uncorked Cork [...]
1431 days ago
[...] stories: Cork & Olive Wine Franchisor Folds; Franchisees Scramble to Survive, Cork & Olive Franchise Corp. Collapse: What’s the REAL Story?, What REALLY Uncorked Cork [...]
1437 days ago
[...] The owner, one Michael Probst, closed out, laying off 40 employees and abandoning the franchisees. But, as Sean says, if the franchisees can get together and figure out a way to survive in a co-op situation, they mig… [...]
1437 days ago
[...] Cork & Olive Wine Franchisor Folds; Franchisees Scramble to [...]
1437 days ago
[...] Related stories: Cork & Olive Wine Franchisor Folds; Franchisees Scramble to Survive, Cork & Olive Franchise Corp. Collapse: What’s the REAL Story?, What REALLY Uncorked Cork [...]
He better find a big boyfriend in prison
Hmmm… At least those cork & olives will come in handy…
I doubt anything came from the meeting on Wednesday- there is NO hope for Michael. He better find a big boyfriend in prison- Don’t drop the soap Michael.
1441 days ago
[...] (FranchisePick.Com) Yesterday, UnhappyFranchisee.com reported that the Cork & Olive Franchise Corp. had folded, that the eight company stores had closed, 40 employees had been abruptly laid off [...]