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KFC to keep jobs, honor commitments after Russian assets sale — press service

Yum! Brands, the owner of the KFC fast food chain is at the advance stage of talks for the sale of their Russian business to a local operator

MOSCOW, July 5. /TASS/. Any option of KFC assets sale in Russia anticipates preservation of jobs and fulfillment of obligations towards suppliers and partners, the company’s press service told TASS.

"As it was announced earlier, Yum! Brands suspended all investments in development in Russia and halted operations in own restaurants. The company is currently considering various scenarios of transferring assets held by it in Russia to a local operator. Any options discussed anticipate keeping jobs for employees and fulfillment of obligations towards suppliers and partners," the company said.

The greater portion of restaurants operating in Russia under the KFC brand is managed under franchisee agreements and belongs to Russian legal entities. Such outlets will continue normal operations. "The KFC brand will continue its operation on the Russian market," the company added.

Yum! Brands, the owner of the KFC fast food chain is at the advance stage of talks for the sale of their Russian business to a local operator, the company’s press service said earlier on Tuesday.