Re-franchising is the resale of company owned (corporate owned) businesses by franchisors. Also referred to as going franchise.
If a franchisor has multiple franchises within their chain, often times many are owned by corporate and others are owned by franchisees (individual operators). When the franchisor decides to sell all or several of the company owned units, they are refranchising (also known as going franchise). Excellent way to free up cash, reduce risk and grow their chain (as often times if executed properly; the franchisees will out perform the company managers; for many reasons; most often as franchisees have skin in the game).
On June 15th 1985, a Lithuanian man entered the Hermitage museum in Leningrad, and approached Rembrandt's 1636 painting "Danae". He slashed and stabbed at the ancient canvas twice, then tossed a bottle of sulfuric acid at it. This event is referenced in the phrase "a burning rebrandt". Though acid was used to burn this painting away, anything that burns in anyway may be remarked upon as being a burning rembrandt, or as burning like a rembrandt.