Presto explores sale as a going concern

A sale of Presto as a going concern has emerged as an option within the court-supervised liquidation of its operator, Franquicias y Concesiones S.A.S. Colombia’s Superintendency of Companies has authorised certain operations to continue temporarily to preserve the business’s value and explore that possibility. The decision does not mean a sale has been agreed, nor does it halt the liquidation.

A possible sale, not a confirmed acquisition

The authorisation was set out in order 2026-01-759994, issued on 19 October 2026. Its purpose is to maintain, temporarily, the operations needed to preserve the business’s value while a potential sale as a going concern is explored.

The scope of this measure matters to Colombia’s franchise community: rather than considering assets solely on an individual basis, the proposed approach seeks to preserve an operation that can be assessed as a whole. However, that possibility does not yet amount to a transaction.

According to information published by Infobae on 20 October, no potential buyers or specific negotiations to acquire the chain had been reported. There is therefore no announced buyer, disclosed price or confirmed completion of a sale.

The distinction is essential: permission has been granted to maintain certain activities temporarily with a view to preserving value and exploring a sale. However, the information available does not identify a future owner, should an acquisition eventually proceed.

Which operations are to be preserved?

The measure covers the outlets that the liquidator keeps open, the support functions needed to run them and the production facility. The authorisation is therefore not limited to serving customers: it also includes the infrastructure supporting the restaurants’ operations.

This scope helps explain the purpose of the decision. Keeping outlets open alongside their operational and production support allows a functioning business structure to be preserved temporarily while a possible sale is considered. However, the authorisation applies to the outlets that the liquidator keeps active and should not be interpreted as a guarantee that all locations will remain open.

The permission has no fixed calendar expiry date. It will remain in force until 20 working days after the approval of the classification and ranking of creditors’ claims becomes final. That deadline is tied to a milestone in the court proceedings, not to an announced date for selling the chain.

From restructuring to the search for a way forward

The current situation follows the admission of Franquicias y Concesiones S.A.S. to corporate reorganisation proceedings on 13 July 2023 under Colombia’s Law 1116 of 2006. The reorganisation agreement was confirmed on 30 April 2026 and provided for the restructuring of COP 31 billion in liabilities over six years.

Months later, on 30 September, the company itself applied for court-supervised liquidation following a decision by its highest governing body. According to the background reported by H13N, the application was supported by a study showing declining cash flow, difficulties keeping the business operating and delays in paying administrative expenses.

On 13 October 2026, the Superintendency terminated the reorganisation agreement and formally opened liquidation proceedings under case number 39544. The operating authorisation issued on 19 October followed that decision and neither reverses nor suspends it.

What the franchise community should watch

The case requires a clear distinction between three elements: the liquidation of the operating company, the temporary continuation of certain activities and the possibility of selling the business as a going concern. These are related, but none means that the next has been secured.

For anyone assessing opportunities or commercial relationships connected with the brand, the practical takeaway is to check the rulings in the case file and distinguish permission to operate from an actual sale. Until a specific transaction is announced, an acquisition of Presto remains a possibility to be explored within the liquidation process.