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McDonald's To Close Down 169 Outlets In Inda
By: Tupaki Desk | 22 Aug 2017 11:31 AM GMT
Popular US Burger chain McDonald's is shutting down its 169 outlets in India out of 430 outlets operating in the country. McDonald's operate these 169 outlets through Connaught Plaza Restaurant(CPRL) in North and East India as a 50-50% joint venture.
McDonald's made an official announcement on Monday that it is terminating its agreement with CPRL due to the fallout in franchise agreements. McDonald's India has been engaged in a legal battle with it's partner Anand Bakshi, the head of CPRL since 2013. Nearly 10,000 employees will lose jobs as a result of the closure. On the other hand, McDonald's will continue its South and West operations through the existing partner Hardcastle Restaurants as usual.
McDonald's is looking for a new partner in North and East regions of India now. McDonald's has a presence in nearly 120 countries across the globe.
McDonald's made an official announcement on Monday that it is terminating its agreement with CPRL due to the fallout in franchise agreements. McDonald's India has been engaged in a legal battle with it's partner Anand Bakshi, the head of CPRL since 2013. Nearly 10,000 employees will lose jobs as a result of the closure. On the other hand, McDonald's will continue its South and West operations through the existing partner Hardcastle Restaurants as usual.
McDonald's is looking for a new partner in North and East regions of India now. McDonald's has a presence in nearly 120 countries across the globe.
