Iş Gıda, the company that used to run KFC and Pizza Hut in Türkiye, has filed for bankruptcy after losing its franchise agreements with Yum! Brands. This decision comes after the company struggled with a massive debt of 7.7 billion Turkish lira ($214 million). As a result, 537 KFC and Pizza Hut restaurants across the country have been forced to close.
The shutdown has had a severe impact on thousands of workers, leaving around 7,000 people unemployed. Many of these workers have gathered outside Iş Gıda’s headquarters in Istanbul to protest, demanding answers and support. The company’s CEO, Ilkem Şahin, called the situation a financial disaster, explaining that banks and government agencies have taken control of the company’s remaining assets.
Yum! Brands, the owner of KFC and Pizza Hut, stated that Iş Gıda was unable to meet the required operational standards, even after months of discussions. This breakdown in agreement has led to one of the biggest closures in Türkiye’s fast-food industry.
The bankruptcy of Iş Gıda marks a significant change in the country’s restaurant sector, raising concerns about job security, financial stability, and the future of international fast-food brands in Türkiye.
