KFC and Pizza Hut Halt in Turkey Declared Bankruptcy
KFC & Pizza Hut Operator in Türkiye Files for Bankruptcy, Shuts Down 537 Restaurants Iş Gıda, the former franchisee of KFC and Pizza Hut in Türkiye, has declared bankruptcy after losing its agreement with Yum! Brands.
KFC & Pizza Hut Operator in Türkiye Files for Bankruptcy, Shuts Down 537 Restaurants
Iş Gıda, the former franchisee of KFC and Pizza Hut in Türkiye, has declared bankruptcy after losing its agreement with Yum! Brands. Struggling with a massive TL 7.7 billion ($214 million) debt, the company has closed all 537 locations, leaving around 7,000 employees unemployed. Protests have erupted outside Iş Gıda’s Istanbul headquarters, while CEO Ilkem Şahin calls it a financial collapse. Yum! Brands cited operational failures despite extended negotiations, marking one of Türkiye’s biggest fast-food shutdowns.
