43 out of 55 McDonald’s In Delhi Will Close Today, 1700 May Lose Jobs

McDonald’s is everybody’s favourite food chain and the latest dispute between the Connaught Plaza Restaurants Ltd, the 50:50 local joint venture between former managing director of CPRL Vikram Bakshi and McDonald’s puts it in a tight spot as more than 43 outlets will close today.

FILE - In this April 20, 2006 file photo, a McDonald's restaurant logo and golden arch is lit on Chicago's near North Side. After turning in another quarter of sliding sales and profit, McDonald’s CEO Steve Easterbrook said the company will unveil initial details on a plan to turn around its fortunes on May 4, 2015. Among the challenges the fast-food chain is facing are intensifying competition and an image for serving junk food that it just can’t seem to shake. (AP Photo/Jeff Roberson)

The reason for this closure is still not released. However, it is believed that CPRL failed to get the mandatory regulatory health licences renewed because of the infighting between Bakshi and McDonald’s. The move, they point out, will render over 1,700 employees jobless.

Bakshi, who was removed as the MD of CPRL in 2013, has been involved in a legal fight with McDonald’s, and has taken the world’s largest food chain to the Company Law Board, which is yet to announce its verdict. Meanwhile, McDonald’s has been pursuing arbitration against Bakshi in the London Court of International Arbitration.

This will further deteriorate McDonald’s campaign to regain its top position, which it lost to Dominoe’s pizza in 2013. Brand experts feel that unless it resolves its legal problems, the food chain will continue to feel the heat in the country.

Tagged with:     , , , ,

About the author /

He eats Internet for breakfast, Sarcasm for lunch and Gratitude for Dinner. He is currently working on building a Time-Machine, and this can be seen in his love for writing on the nostalgic things that have happened, the trending news that goes on and the amazing possibilities that are yet to happen.

Latest Post

Random Articles

Latest Story