Franchise Egypt

McD’s New Town outlet opens after change in franchise ownership

02/12/2020
McDonald’s has reopened its outlet at City Centre II after a change in ownership of the franchise, setting the ball rolling for other outlets in the state to resume business.

The eight outlets in Kolkata and Durgapur remained shut from the first week of May this year when the transition of ownership commenced. Connaught Plaza Restaurants Pvt Ltd (CPRL), the franchise is now wholly owned by McDonald’s India. CPRL was earlier owned by Vikram Bakshi. The first McDonald’s outlet in Kolkata, which was opened in 2006 in Park Street, remains shut.

On May 9, in an out-of-court settlement, the US-based fast-food major took over the ownership of CPRL by buying out the stake of Bakshi in CPRL, which operated chain of McDonald’s restaurants in north and east India. The company, however, did not disclose financial details of the settlement.