Mcdonald's Formally Ends Franchisee Operations In Sri Lanka?

10/26/2024 4:21:35 AM

(MENAFN- NewsIn Asia) Oct 25 (TimesOnline) – US fast-food outlet McDonalds on Friday said it has formally ended its arrangement with its Sri Lankan franchisee, after the operations were suspended in March 2024 over a hygiene issue.

“McDonald's Corporation and International Restaurant Systems (Pvt) Ltd have entered a legal settlement mutually agreeable to them. The franchise relationship that previously existed between them has ended,” the duo said in a joint statement.

McDonald's stores across Sri Lanka were shut in March over an issue of poor hygiene which followed a court battle by the local company, which is linked to the Abans Group.

On Friday, McDonald's Corporation and International Restaurant Systems (Pvt) Ltd said they extended“their gratitude to the public for their support during this period and encourage the public to disregard any rumors or speculation previously circulated in the media”.

The fast-food giant has so far not divulged any plans to whether or not to find another local company to take over the franchisee operations.

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