Former KFC and Pizza Hut operator in Turkiye declares bankruptcy 

Is Gida, the former operator of KFC and Pizza Hut in Turkiye, has filed for bankruptcy, citing debts of $214 million (TL 7.7 billion). The move follows Yum! Brands’ termination of its franchise agreements with the company on 8 January. The collapse has led to the closure of 537 restaurants and the loss of around 7,000 jobs. Daily Sabah reports that many employees were dismissed without receiving their salaries, sparking protests in Istanbul, Ankara, and Izmir. Abdurrahim Seven, a manager at one of the country’s 283 KFC restaurants, urged Yum! Brands CEO David Gibbs and incoming KFC CEO Scott Mezvinsky to address the issue in a LinkedIn post on Tuesday. “We, thousands of employees, are still hoping for positive news […]