Iş Gıda, the company that operated KFC and Pizza Hut in Türkiye, has filed for bankruptcy after losing its franchise agreements with Yum! Brands. The company faced a massive debt of 7.7 billion Turkish lira ($214 million), leading to the closure of 537 KFC and Pizza Hut restaurants across the country.

The shutdown has left approximately 7,000 workers unemployed, many of whom have protested outside Iş Gıda’s headquarters in Istanbul, demanding answers and support. The company’s CEO, Ilkem Şahin, described the situation as a financial disaster, with banks and government agencies seizing the company’s remaining assets.

Yum! Brands stated that Iş Gıda failed to meet operational standards, despite months of discussions. This breakdown in agreement has resulted in one of the largest closures in Türkiye’s fast-food industry.

The bankruptcy of Iş Gıda marks a significant shift in the country’s restaurant sector, raising concerns about job security, financial stability, and the future of international fast-food brands in Türkiye.
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