NexCen pursues franchise growth

The company that controls franchise brands such as Marble Slab Creamery, Pretzel Time and the Athlete’s Foot from offices in Norcross said Friday it expects its partners to open 160 new stories in eight countries over the next few years.

NexCen Brands Inc. said the agreements would produce $2.5 million in initial franchise fees —- welcome cash for a company that has been struggling with severe liquidity problems this year.

The company is headquartered in New York but runs its franchising operation from offices in Norcross.

The company said the deals include agreements to expand the Marble Slam Creamery and MaggieMoo’s brands into Europe for the first time with 40 United Kingdom stores over 10 years.

Other deals include Pretzelmaker and Great American Cookies outlets in Mexico and Lebanon and Shoebox New York and The Athlete’s Foot locations in Angola, Botswana, Namibia, South Korea and Vietnam.

It’s been a tumultuous year for NexCen. As of Friday morning, the company’s stock value had fallen 98 percent from its 52-week high of $6.64.

The vast majority of that decline occurred in May, when the company announced it would have to delay its second quarter results, restate its 2007 results and cast doubt on its ability to continue as a going concern.

NexCen Franchise Management President Chris Dull said in a statement that efforts to refocus the company as a franchise operator will pay off.

“We believe that by focusing on the franchising business as the core business of the company, we are able to better support our franchise brands and capitalize on their significant growth potential,” he said.