McDonald’s ends partnership with Vikram Bakshi, to shut down 165 outlets 

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With the 64-year-old entrepreneur, Vikram Bakshi, who is credited to bring McDonalds to India, failing to get a better share, McDonalds and Mr. Bakshi have decided to end their 25-year joint venture. In a statement, a representative of McDonalds said that as of today, McDonalds’ will be transferring their ownership and shifting their management. As a consequence to the end of the 25-year long partnership, McDonalds’ said that at least 165 outlets in the North and in the East of India will be shut temporarily.  

McDonald’s ends partnership with Vikram Bakshi, to shut down 165 outlets

However, a representative of the fast food chain said that they hope to re-open the outlets within 2 weeks and are focused on improving their quality to offer their customers the highest level of satisfaction at their outlets.  

Mr. Bakshi launched a bitter battle against McDonald’s which has lasted 6 years, and according to Connaught Plaza Restaurants (CPRL), the settlement he received from McDonald’s is around $330 million, though none of the involved parties have made any statement on the settlement. Rumour has it that Mr.Bakshi’s next venture could be with McDonald’s competitor, Wendy’s.  

Source: Times of India 

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