-- Toridoll (TYO:3397) said its UK subsidiary, The Real Greek Food Company, executed an asset purchase agreement with Karali Group under insolvency proceedings, according to a Thursday filing on the Tokyo Stock Exchange.
The Real Greek Food Company entered into Administration proceedings last week as part of a restructuring process at The Fulham Shore, a consolidated Toridoll subsidiary.
Karali Group, which operates restaurant and hospitality businesses mainly in the UK, will acquire the business and related assets. Toridoll said the transaction will support business continuity and employee succession. Toridoll expects The Real Greek Food Company to exit its consolidation scope after the asset transfer.