Former KFC and Pizza Hut Operator in Turkey Goes Bankrupt, Leaving Thousands Without Jobs and Unpaid Wages
The company that previously operated KFC and Pizza Hut restaurants in Turkey has filed for bankruptcy due to overwhelming debt amounting to $214 million (approximately TL 7.7 billion).
As a result of this financial collapse, 537 restaurants across the country have shut down, leaving around 7,000 employees without jobs. Many of these workers are now facing financial difficulties as they have not received their salaries and compensation.
In response to this crisis, large-scale protests have erupted in major cities, including Istanbul, Ankara, and Izmir. Former employees are demanding their unpaid wages and fair compensation, calling on authorities to intervene.
Ilkem Sahin, the CEO of the bankrupt company, Is Gida, has confirmed the company’s severe financial troubles. He revealed that several properties owned by the company have been seized, and many assets were lost due to loans taken against them.
The sudden closure of hundreds of restaurants and the loss of thousands of jobs have raised concerns about the future of the fast-food industry in Turkey and the rights of workers affected by such bankruptcies.
