Mcdonalds Outlet Closed
Largest and Popular Food chain McDonald’s all over the world and all also one of the favorite food chains at India. McDonald’s™ is the leading global food service retailer with more than 32,000 local restaurants serving more than 58 million people in around 130 countries each day. 70 percent of our restaurants worldwide are owned and operated by independent, local businessmen and businesswomen.
McDonald India was operated by two two business entities. First By Cannaught Plaza Restaurants Pvt Ltd. led by Vikram Bakshi , JV Partner & East India and in other hand south & west india are operated by Hard castle Restaurants Private limited. At present, there are 300 McDonald’s™ restaurants in India.
McDonald’s India which operates in country through two franchises had terminated the agreement with the Cannaught Plaza Restaurants LTD (CRPL) .Which franchise by Vikram Bakshi holds a 50% stake. From Now CRPL Not authorized use brand name and trademark. Many food lover is heartbroken with more than 10,000 loss job directly and indirectly. National Company Law Tribunal(NCLT) issued show cause notice to McDonald and its Indian arm run by Indian partner Vikram Bakshi in a 50:50 joint venture with Cannaught Plaza Restaurants LTD (CRPL).
Earlier in August, McDonald’s India had terminated the franchise agreement for these 169 fast-food outlets run by CPRL, a company led by Vikram Bakshi. CPRL was the master franchisee for McDonald’s operation in North and East India. Bakshi opposed McDonald’s termination move and challenged it in the NCLT. However, the Tribunal dismissed it.
Weeks after terminating franchise agreement with its Indian partner, McDonald’s has reportedly said that from today Connaught Plaza Restaurants Ltd will not be authorized to use its names, trademarks, and branding. McDonald’s India had a 50:50 joint venture with CPRL that run 169 stores spreading across North and East India.
Not all stores in India are directly owned by the American fast food giant. A lot of stores are operated on a franchise model. A local partner operates the stores tailored to the specifications that McDonald’s lays down and uses the company’s logos, branding in return for a royalty payment.