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KFC Israel Chain Faces Sale After Court Approval
A court has approved the sale of the KFC fast-food chain in Israel, which owes approximately 50 million shekels. Temporary administrators have been appointed and are seeking bids for the business, with several interested parties already identified.
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What happened
- 01A court has authorized the sale of the KFC fast-food chain in Israel due to significant debt.
- 02The chain, operated by Smart Service, owes approximately 50 million shekels to creditors and employees.
- 03Temporary administrators have been appointed and are seeking bids for the business within 21 days.
- 04Several potential buyers have already expressed interest in acquiring the KFC franchise.
- 05The company's financial troubles are linked to the events of October 7 and the security escalation.
- 06The chain currently operates 12 branches and employs around 120 workers.
The chain, operating 12 branches and employing 120 people, is facing supply shortages and financial distress attributed to the recent security escalation.
The coverage
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