Francorp International announced the layoffs of key personnel Monday morning after the franchise company could not meet payroll Friday. It is not known to what extent the layoffs will reach, or what this means for the operation of the company.
The franchise consulting company has claimed to have consulted with over 10,000 businesses, and has helped bring success to over 2,000 franchises since 1976. Francorp’s clientele has included franchises such as Popeye’s Fried Chicken, ACE Hardware, Hallmark Cards, and Budget Rent-a-Car. The Francorp business operates in multiple countries around the world, including Mexico, Singapore, Indonesia, Thailand, Philippines and in the Middle East.