The only way I can see this stopping

The lack of any short-term support is really worrying. (For longs).

The only way I can see the selling stopping is for:

A. the Company's bankers to agree to extend the Company's debt for 3 years (at least) and for that to be announced clearly and quickly to the market; and
B. Management to clearly update the market on the number of franchises currently for sale AND to give some update as to the number of new franchises they have currently under negotiation.

My own view is that if Management do not secure 'A', RFG may go under - as it seems to me that they do not have the cash to pay out all their debt if/when it falls due and now Management have spoken about negotiations with lenders, they really need to deliver something positive. I think that is something that the Company and the banks need to address at all costs - if RFG fails, the banks will also no doubt take a haircut. However, if Management can achieve a good deal with lenders, I'd like to think they can buy some time to right the ship.

My own view is that B is also critical. I'm working on the assumption that what's been reported on the first point is reasonably accurate - as the various journalists who have written on this subject have reported that they've just counted numbers from various sources that list businesses for sale. Even if the data is bad - get it out there. It cannot be worse than the assumptions and reports that folks are currently trading (selling) on. Without certainty, it's hard to see enough buyers to put medium-term support under this one.

I'm still resisting the temptation to try and catch the knife. When the ST base comes and there is a bounce, it may not be that big - unless Management achieve A and B.