McDonald's to Close 169 Locations in India

21 August, 2017, 23:43 | Author: Benny Bass
  • McDonald’s is now looking for a new developmental licensee partner for north and east India in a bid to rebuild the brand

The US-based McDonald's further said that Bakshi had pledged 51,300 of his CPRL shares to get a loan of Rs 20 crore so that his company Ascot Estate (Manesar) Pvt Ltd could develop the Savoy Outlet Mall and service apartments in Manesar.

Close on the heels of the popular burger and fast food chain McDonald's shutting down 43 of its 55 outlets in Delhi, the multinational has now terminated its franchise agreement for 169 outlets in North and East India with its Indian partner for the region - Vikram Bakshi-controlled Connaught Plaza Restaurants Pvt Ltd (CPRL).

CPRL was the master franchisee for McDonald's India in North and East India.

McDonald's has said that its India licensee CPRL can not use its trademarks, designs and branding in India.

McDonald's India said it was compelled to take the step because CPRL had materially breached the terms of the franchise agreements relating to the restaurants and had failed to remedy the breaches despite being provided an opportunity to do so.

McDonald's said: "We understand this action brings uncertainty for many..." Currently, the firm is committed to finding the right DL partner for North and East India, it said.

Bakshi is locked in a legal battle with McDonald's since August 2013 when he was not reappointed as managing director of Connaught Plaza Restaurant.

McDonald's will stay open in south and west India, according to The Times of India.

The directors of McDonalds did not show up for the CPRL board meeting scheduled today, as directed by the NCLT to resolve issues between the fast food giant and Bakshi.

Company chief Vikram Bakshi told the Press Trust of India news agency that CPRL was considering what legal recourse was available. CPRL is a 50:50 joint venture between McDonald's India and Bakshi.

A bench of Justice Sanjeev Sachdeva passed the order after Bakshi's counsel informed the court that there was no consent for transferring the litigation to the Chennai bench.

The estranged Indian partner of McDonald's, Vikram Bakshi today asked the United States food major to return all the prime properties leased.

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