01.10.2025 11:07
The company İş Gıda AŞ, which owns popular restaurants KFC and Pizza Hut, has filed for bankruptcy with a debt of 4.4 billion TL. The giant company, which has 500 restaurants across Turkey, had approached the court with a request for concordat.
İş Gıda AŞ, which owns more than 500 KFC and Pizza Hut restaurants across Turkey, returned empty-handed from the court where it filed for concordat.
BANKRUPTCY WITH 4.4 BILLION TL DEBT
According to the news by Dinçer Gökçe from Halk TV; the company, which represents global food brands in Turkey, went bankrupt with a debt of 4.4 billion TL.
TRANSFER HAD BEEN ON THE AGENDA
It had been reported that some of the KFC restaurants would be transferred to HD Holding, the owner of the HD İskender and Pidem brands. However, there was no agreement with any company for Pizza Hut. Thus, Pizza Hut was withdrawn from the Turkish market.
WHAT HAD HAPPENED?
İş Holding and its affiliated group companies, which represent the KFC and Pizza Hut brands in Turkey, could not overcome the financial bottleneck they entered last year. A concordat request was filed on behalf of İŞ Holding AŞ, İş Gıda Sanayi AŞ, İşhway Gıda Dağıtım AŞ, and Peyman Kuruyemiş Gıda AŞ, as well as İlkem Şahin, the owner of these companies. The court decided on the bankruptcy of İş Gıda AŞ and İshway Gıda Dağıtım AŞ.
During this process, the transfer of some KFC restaurants to HD Holding, the owner of the HD İskender and Pidem brands, was discussed. However, there was no agreement with any company for Pizza Hut. Thus, Pizza Hut was withdrawn from the Turkish market.