Bread Factory: Nine stores taken over by new franchisees

Nine Bread Factory stores have moved to a new operating model, with independent business owners running them under franchise agreements. The change covers existing locations in Attica, the region that includes Athens, and Larissa. It highlights a specific development for Greece’s franchise sector: existing stores continuing to trade under the same brand, but with new operators.

Which stores are affected?

According to reports published by Oikonomikos Tachydromos and the Aftodioikisi website on 30 October 2026, the new arrangements cover stores in Moschato, Aspropyrgos, Marousi, Peristeri, Cholargos, Larissa and Piraeus, as well as those on Michalakopoulou Street and Syngrou Avenue. This amounts to eight locations in Attica and one in Thessaly.

The news does not concern the addition of nine new stores to the network. Rather, it concerns a change in how existing Bread Factory locations are operated. The distinction matters: a chain’s geographical expansion is different from the takeover of existing stores by new franchisees.

Aftodioikisi reports that the stores have been leased by new business owners under franchise agreements. Oikonomikos Tachydromos similarly describes their transition to operation by independent business owners. Both reports point to a change in the operators behind the nine locations, while the stores continue to trade as Bread Factory.

Links to the previous operation

The reported independence of the new operators is particularly significant. According to information published by Aftodioikisi, these business owners were not involved in the chain’s previous operation and have no links to the companies formerly responsible for it.

The same report states that they have no connection to the previous management, former corporate structures or the chain’s outstanding financial matters. These statements are attributed to information in that report and should not be confused with an independent legal determination of how responsibilities or liabilities are allocated.

For the franchise sector, this case highlights the importance of distinguishing between a brand and the business owner operating an individual store. A shared trading name reflects how the locations present themselves to customers, but does not, on its own, explain the corporate relationships behind them. Here, the substantive change being reported is the takeover of operations by independent business owners through franchising.

Tax and social security payments

Oikonomikos Tachydromos also provides a specific financial figure for the new operating arrangements. According to the figures it cites, the new franchisees paid more than €1 million in taxes and social security contributions over four months. The report also states that monthly payments now exceed €300,000.

These sums represent payments to the state and social security bodies. They are not figures for turnover, profitability or investment. They therefore provide a specific picture of the reported payments under the new arrangements, rather than an overall assessment of the stores’ financial performance.

The four-month total and the current monthly payment level are also two different measures. They should not automatically be converted into an annual forecast or an average amount per store. The news lies in the reported payments themselves, without the need to add estimates of future results.

What this means for the franchise sector

The Bread Factory development concerns franchising as a means of keeping existing stores in operation. It is not simply a network expansion announcement, but a change in who is responsible for running businesses at nine specific addresses. This distinguishes it from a routine store-opening story.

For a prospective franchisee, the case offers a reason to examine three issues separately: who will run the store, which legal entity is entering into the agreement, and what obligations the relevant agreements set out. Brand recognition is no substitute for checking these details.

Practical takeaway: When taking over an existing franchise store, financial and legal due diligence should focus on the specific operating entity and the terms of the agreement, not just the brand.