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The Indian unit of McDonald’s Corp. said it will shut all its 169 outlets in northern and eastern India after estranged partner Vikram Bakshi failed to win interim relief on a petition challenging the fast-food chain’s termination of their franchise agreement.
McDonald’s India announced its intention immediately after the National Company Law Appellate Tribunal (NCLAT) said it would hear Bakshi’s interim plea along with the main appeal scheduled for hearing on 21 September.
On 21 August, McDonald’s India terminated its franchise agreement with Connaught Plaza Restaurants Pvt. Ltd (CPRL) for all 169 McDonald’s outlets in northern and eastern India, citing non-payment of royalties as the primary reason. Bakshi, the managing director of CPRL (a joint venture between him and McDonald’s India), was supposed to shut the restaurants within 15 days of termination (by 6 September).
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