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McDonald's: All 169 McDonald’s stores face closure in North & East, thousands of jobs at risk - The Economic Times
All 169 stores of McDonald’s across the North and East could well disappear within a fortnight, with the US firm announcing the termination of the franchise agreement between its India arm McDonald’s India Private Limited (MIPL) and Vikram Bakshi headed Connaught Plaza Restaurants Ltd ( CPRL) on Monday.
The development could not only wipe out the burger and fries chain, at least temporarily across half the country, but also puts a question mark on thousands of jobs of employees and contracts of suppliers running into crores.
CPRL will not be allowed use of any intellectual properties of McDonald’s at the 169 outlets across North and East India within 15 days of the termination notice, a statement issued by McDonald’s said. The operational licenses of all stores was with CPRL.