Priszm LP is the largest operator of Canadian

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 fast food

Fast food

Fast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with preheated or precooked ingredients, and served to the customer in a...

 restaurants. The Priszm Income Fund, an income trust

Income trust

An income trust is an investment that may hold equities, debt instruments, royalty interests or real properties. The trust can receive interest, royalty or lease payments from an operating entity carrying on a business, as well as dividends and a return of capital.The main attraction of income...

, owns 60.2% of Priszm.

Priszm is one of the largest franchisee

Franchising

Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....

s of Yum! Brands

Yum! Brands

Yum! Brands, Inc. or Yum! is a United States-based Fortune 500 corporation. Yum! operates or licenses Taco Bell, KFC, Pizza Hut, and WingStreet restaurants worldwide....

 in the world, owning 446 restaurant

Restaurant

A restaurant is an establishment which prepares and serves food and drink to customers in return for money. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services...

s of various Yum!-owned chains in Canada, namely KFC

KFC

KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky, in the United States. KFC has been a brand and operating segment, termed a concept of Yum! Brands since 1997 when that company was spun off from PepsiCo as Tricon Global...

, Pizza Hut

Pizza Hut

Pizza Hut is an American restaurant chain and international franchise that offers different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread....

, Taco Bell

Taco Bell

Taco Bell is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of Yum! Brands, Inc., which serves American-adapted Mexican food. Taco Bell serves tacos, burritos, quesadillas, nachos, other specialty items, and a variety of "Value Menu" items...

, and WingStreet

WingStreet

WingStreet is a restaurant chain specializing in chicken. It is owned by Yum! Brands, which also owns its sister franchise Pizza Hut. As of September 2008, there were close to 1,600 locations in the U.S., Canada, and Australia. They are almost always co-located with Pizza Hut.-History:Pizza Hut...

. The majority of its locations are KFC restaurants, some of which are co-branded with the Taco Bell and Pizza Hut brands. Priszm was also responsible for KFC's national marketing and promotions within Canada from 2003 to 2009. The close relationship between the two companies extends to sharing the same Canadian headquarters in Vaughan, Ontario

Vaughan, Ontario

Vaughan is a city in York Region north of Toronto, Ontario, Canada. Vaughan is the fastest growing municipality in Canada achieving a population growth rate of 80.2% between 1996–2006, according to Statistics Canada having nearly doubled in population since 1991. Vaughan is located in Southern...

.

Bankruptcy

On March 31, 2011, Priszm went into bankruptcy protection in Ontario

Ontario

Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....

 and British Columbia

British Columbia

British Columbia is the westernmost of Canada's provinces and is known for its natural beauty, as reflected in its Latin motto, Splendor sine occasu . Its name was chosen by Queen Victoria in 1858...

 Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

.

On May 6, 2011, Priszm Income Fund will be delisted from the Toronto Stock Exchange for failure to meet the continued listing requirements.