McDonald’s outlet at Udaipur has been shut down temporarily owing to closure of 165 restaurants by food chain McDonald in North and East India.
This closure comes on back of ending of a six-year-long dispute between McDonald’s Corp. and its estranged India partner Vikram Bakshi. McDonald’s India Pvt Ltd (MIPL) has bought out Bakshi’s 50% stake in their joint venture Connaught Plaza Restaurants Ltd (CPRL).
Barry Sum, Director of Corporate Relations for Asia, McDonald’s said that they will review its over 160 outlets in north and east India over the next two weeks. The outlets would be closed during this period starting 9 May, he added.
Over next two weeks McDonald’s will work on moving to new ownership structure and speeing up opening up of the closed outlets.
MIPL’s relationship with Bakshi turned bitter when MIPL voted against his appointment at CPRL as Managing Director in 2013. With MIPL buying out CPRL’s stake, their relationship has ended.
MIPL is still actively looking out for a partner for its north and east India business.