11 hours Ago
Australian company Collins Foods announced on Monday that it will either close or sell all Taco Bell stores in the country. In a message to investors, the company, which also runs many KFC outlets across Australia, said it has decided to stop running the Taco Bell business. If they can't find a buyer within a year, they will look at other ways to shut down the Taco Bell stores.
However, there are no plans to close any KFC locations. "Discussions are currently underway with Taco Bell International (TBI) regarding a potential transition of the business to new ownership," Collins Foods mentioned in the statement, 9News reported. "Collins Foods intends to complete the transition within the next 12 months, subject to formal terms being agreed.
" "A further update will be provided, including estimated exit costs, as matters progress. If a new operator cannot be identified and/or an agreement cannot be reached, other exit options will be explored." Krystal Zugno takes over as general manager of Taco Bell and KFC Australia After the announcement, Krystal Zugno, the former general manager of Taco Bell in Australia, was promoted to the general manager of Australian operations for both Taco Bell and KFC.
"Collins Foods has successfully operated KFC restaurants for over 50 years, building a reputation as a trusted operator," Collins Foods' managing director and chief executive, Xavier Simonet, said. "In a challenging economic environment, the customer remains at the heart of our business. We will continue to deliver high-quality food at accessible prices, leveraging the heritage of the KFC brand at a time when consumer trust has never been more important.
" Taco Bell's rocky journey in Australia Taco Bell first launched in Australia in 1981, but had to pull out after a legal battle with a Sydney restaurant called Taco Bell's Casa. The U.S.
-based Mexican fast-food chain tried again in 1997, but closed its doors after eight years. In 2017, Taco Bell made a third and final attempt to enter the Australian market, with plans to open over 50 stores by the end of 2021. Today, there are 27 Taco Bell locations across Australia.
.
