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KFC and Pizza Hut Operator in Türkiye Collapses, Leaving Yum! Brands $24 Million Unpaid
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KFC and Pizza Hut Operator in Türkiye Collapses, Leaving Yum! Brands $24 Million Unpaid
Yum! Brands, the U.S.-based owner of KFC, Pizza Hut, and Taco Bell, has been left with ₺1 billion ($24 million) in unpaid debt after its former Turkish partner, Is Gida, went bankrupt, according to the Turkish media. A Turkish commercial court ordered the liquidation of Is Gida this week after an eight-month concordat process, a court-supervised debt restructuring mechanism in Türkiye, formally recording liabilities of ₺4.4 billion. In addition …
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