Papa John’s International Inc. is reportedly seeking services of Bank of America Corp. and Lazard Ltd. to salvage its business – as hinted by a Reuters report which cited unnamed sources.
The pizza chain has had been mired in controversy (and uncertainty) following its founder John Schnatter’s resignation as chairman over the use of a racial slur. But the Reuters report mentioning the company’s possible talks with the major financial advisers, and takeover interest among some private equity firms seem to be boosting its share prices recently.