KFC may close some Botswana shops amid partial liquidation | Fin24
 
Loading...

KFC may close some Botswana shops amid partial liquidation

Jun 03 2016 07:48

Cape Town - KFC Botswana will temporarily close at least some of its restaurants in the southern African nation after being placed under partial liquidation, KFC Africa Managing Director Doug Smart said.

“We are working closely with the provisional liquidator to keep the business open," Smart said in an e-mailed statement on Thursday. The fast-food chain may close some locations during the current “disruption,” he said.

Earlier Thursday the franchisee for KFC Botswana, VPB Propco, said it had been trying to the sell the restaurant chain for the past year without success and the only option left was to shutter its 12 stores by the end of this week, cutting 400 jobs.

It “no longer makes business sense to continue operations,” said Anthony Siwawathe, a spokesperson for the operator, without providing further detail.

KFC, owned by Louisville, Kentucky-based Yum! Brands has a presence in 14 sub-Saharan African countries, including 825 outlets in South Africa, according to its website.

kfc  |  liquidations  |  retail
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

Do you support a reduction in the public sector wage bill?

Previous results · Suggest a vote

Loading...