Job loss stares at 1700 as 43 Delhi outlets of McDonald's shut down
However, CPRL, a 50: 50 joint venture between Vikram Bakshi and the US food giant- in a statement said it is closing shop owing to expiry of licence:
"The Board of Connaught Plaza Restaurants Private Limited ( read CPRL, McDonald’s licensee in North and East India) is working to obtain the required licenses. Pending this, CPRL is temporarily suspending the operations of the affected restaurants."
The decision was taken during a board meeting on Wednesday morning.
Vikram Bakshi, former Managing Director of CPRL, was quoted by Economic Times, "It's unfortunate, but operation of 43 restaurants operated by CPRL has been temporarily suspended". He is still in the CPRL board along with his wife.
McDonald's has two representatives on the CPRL board.
The closure of 43 outlets might cause 1700 people lose jobs, according to some media reports.
McDonald's is an American hamburgur and fast food restuarant chain which operates in more than 100 nations. Founded in 1940 by Richard and Maurice McDonald, has become one of the leading restuarant in India, in recent years.
Image: Official Facebook page of McDonald's.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
