McDonalds closing down 43 of its outlets in India
McDonald's is shutting its 43 outlets out of 55 in Delhi today. The disagreement between Connaught Plaza Restaurants Ltd and US-headquartered McDonald's has taken a turn for the worse for the brand.
1,700 employees will be left jobless as the relationship between Vikram Bakshi, the former managing director of CPRL and the global chain crumbled.
Bakshi commented “It’s unfortunate, but operation of 43 restaurants operated by CPRL has been temporarily suspended.”
McDonald’s has been pursuing arbitration against Bakshi in the London Court of International Arbitration.
Bakshi was expelled as managing director of CPRL in August 2013 and has been mired in a protracted legal fight with McDonald’s. The verdict is not out.Thursday, 29th June, 2017