The First Of Jack Cowin’s KFC Stores Closes

SmartCompany.com.au:

The first of Jack Cowin’s Competitive Foods KFC stores in Western Australia has closed.

The Rockingham, Perth, store closed for the last time at midnight after Yum Restaurants International, which owns the franchise, refused to renew Competitive Foods franchise agreement for the site. The US-based franchisor has indicated it will not be renewing any of the KFC franchises held by Competitive Foods and has offered to buy them out.

Cowin has previously said the price offered is well-below the market value. A spokesman for Competitive Foods says negotiations with Yum Restaurants International are continuing – the next franchise agreement due for renewal is late 2008. ‘Hopefully before then we will see a conclusion to this issue.’

More.