The company did not disclose the details of the financial transaction but as per the buzz in the market, the deal was locked at around Rs 1,200 crore.
Tag: Vikram Bakshi
McDonald’s stores to shut down in North, East; thousands of jobs at risk
McDonalds India announced that it had terminated its franchise agreement with Vikram Bakshi’s Connaught Plaza Restaurants on Monday. As a result, 169 restaurants operated by the latter will have to shut down and stop using McDonald’s brand name within 15 days. The company runs McDonald’s outlets in northern and eastern[Read More…]
McDonald’s to shut down 43 of its 55 outlets in Delhi
In a sad news for its customers, food chain McDonald’s is shutting down 43 of its outlets in the national capital. The move comes after the infighting between Connaught Plaza Restaurants (CPRL) and McDonald’s took an ugly turn, resulting in the closure of the outlets. CPRL is a 50-50 local[Read More…]