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Richard Frazer, a partner in Pryor Cashman's Corporate Group, was quoted in an article about restaurants in the June 2007 issue of Pizza Today.

In the article, entitled "One Man's Junk - Sometimes A Failed Operation Proves To Be A Buyer's Treasure," Frazer stated that potential buyers of restaurants should, when reviewing the restaurant's lease, check to see if the lease contains provisions for escalating the rent, which could present a problem for the buyer.

Frazer also noted that most restaurants fail because they are undercapitalized from the start and stated that inadequate funding prevents restaurants from reaching new markets and staying vital.

To read the entire article, please click here.