The popular KFC outlet at Bandra’s Linking Road in Mumbai is temporarily shut since mid-Februrary due to a loan default issue reports Mid Day. Ashok Bhatia who is the owner of the ground and first floors said that the owner of the second floor, Bashirali Keswani had lent out one of the two galas to KFC and mortgaged the property to use it as a guarantee against a loan that his friend had taken. He said, “When the friend defaulted on payment of Rs 39.07 crore to the SBI, the bank turned towards the guarantor to recover the dues. On February 15, officials sealed the two galas on the second floor,” Bhatia told the publication.
Shutter Down At KFC Outlet
The current status of KFC Bandra as reported by Mid Day is that the guarantor has to pay back the loan in 60 days. The staff at the outlet have been shifted to other outlets for the time being. Also, Bhatia told the publication that if the matter doesn’t get resolved in the given time frame then some logistical changes would come into play and the outlet will open in a few weeks sans the second floor kitchen being used.
“My friend has repaid some money to the bank and asked officials to give him some more time to repay the rest. I am hoping that the matter will get resolved within two weeks, and the KFC outlet can start business again,” Keswani told Mid Day.
Feature Image: Delicious
In-article Image: Mid Day