U.S.-based restaurant operator Yum! Brands introduced Wednesday that it has terminated its franchise agreements with Iş Gıda A.Ş., the proprietor and operator of all KFC and Pizza Hut eating places in Türkiye, including that it expects the eating places to shut “at least temporarily.”
The termination impacts 283 KFC and 254 Pizza Hut eating places in Türkiye, Yum! Brands mentioned in a press release.
Iş Gıda A.Ş. is a subsidiary of Iş Holding A.Ş.
The American agency additional mentioned it expects the eating places to shut no less than quickly, including: “Yum! Brands appreciate the loyalty of its Turkish consumers, remains committed to the region, and are working to reopen as many of the restaurants as possible in the future.”
“Yum! is separately taking legal action under the terminated franchise agreements,” it additionally mentioned.
The U.S. company, which additionally operates manufacturers reminiscent of Taco Bell, mentioned that the proprietor of Iş Holding had additionally served as Yum!’s grasp franchisee in Germany for KFC and Pizza Hut for the previous two years. However, it mentioned that in December 2024, Yum reacquired the grasp franchise rights to the German business and resumed administration of that market, including that the most recent choice wouldn’t affect this market.
Yum! Brands is forecasting roughly $60 million (TL 2.12 billion) in pretax bills within the fourth quarter associated to its operations in Türkiye.
Source: www.dailysabah.com