KFC Israel to Be Put Up for Sale After Accumulating About NIS 50 Million in Debt

In depth

The court approved a request for the trustees to put KFC's Israel chain up for sale. The chain operates 12 branches and employs about 120 workers. The trustees have already received inquiries from parties interested in buying it, and in parallel are working to stabilize operations and retain workers. The trustees held a Zoom meeting with the employees in order to build trust and enlist them in continuing operations.

The company that operates the fast-food chain in Israel accumulated debts of about NIS 50 million. A number of parties have expressed interest in buying the chain, and the trustees are seeking to publish a formal invitation for offers to purchase the company or its operations.

The franchisee that operates the branches is Smart Service. Against the debts stand assets of about NIS 3.3 million. According to the invitation for offers, there are 21 days to submit offers.