Pause operations: company temporarily curtailing operations while keeping return options open
Leave Suspension
Yum! Brands, Inc., Yam Brands is an American food service corporation.
Pause operations: company temporarily curtailing operations while keeping return options open
Leave SuspensionAmerican holding Yum! Brands, which owns KFC, has entered into an agreement to sell 70 of its Russian restaurants and master franchise rights to a local partner, Smart Service Ltd. businessmen Konstantin Kotov and Andrey Oskolkov. The new owner was obliged to gradually rebrand all KFC establishments in Russia into Rosticʼs, signs will begin to change from 2023. Later, in the beginning of 2023 KFC franchisees in Russia ask govt to halt sale of stores to local operator.
Suspending all investment and restaurant development in Russia. Profits from Russia redirected to humanitarian efforts. Donation $1M to Red Cross and employee matching funds to other humanitarian organizations. Pizza Hut has 50 company owned locations. KFC is suspending 70 locations; over 1000 franchisee owned locations will remain open.