11.05.2025 10:10
The KFC and Pizza Hut branches that have been closed for about 4 months are preparing to return to Turkey following Yum! Brands' agreement with Value Solution Partners. In January, Yum! Brands terminated its contract with İş Gıda, which was operating the franchise services, leading to the closure of 537 KFC and Pizza Hut branches in Turkey.
Yum! Brands, one of the world's leading fast food chains, had terminated the contract with İş Gıda, which operates its franchise services in Turkey, with a decision made in the first days of January.
The reason for the termination was cited as the company's failure to meet the established standards in Turkey, which led İş Gıda to declare bankruptcy, and the closure of 537 KFC and Pizza Hut branches in Turkey.
FAST FOOD GIANT RETURNS TO THE TURKISH MARKET
According to a report by Necla Dalan from Patronlar Dünyası; KFC and Pizza Hut, which have kept all their branches closed for about 4 months, have reached an agreement to return to the Turkish market. The American giant Yum! Brands, which plans to continue its operations in Turkey, has reached an agreement with Value Solution Partners, a real estate and investment management service provider.
Value Solution Partners has started discussions with shopping center investors to continue agreements based on the current leasing conditions. Although agreements have been reached for a very few branches, most investors are reluctant to agree. It is also rumored that investors who are unwilling to agree are primarily asking for the payment of existing debts and an increase in rents.
MEETINGS WITH INVESTORS CONTINUE
Before the stores closed, KFC and Pizza Hut branches were operating in 90% of shopping centers in Turkey. Industry insiders claim that İş Gıda has not been able to pay rent for 3-4 months, and it is alleged that the closure of branches would mean an average loss of 80 million TL per month for shopping center investors, based on an average rent of 150,000 lira per store.