CHECKOUT COUNTER: Jamie Oliver restaurants face closure
A weekly round up of the hottest international retail and consumer news.
1. McDonald’s sells control of China franchise 1. McDonald’s sells control of China franchise McDonald’s will offload a controlling stake in its mainland China and Hong Kong operations to a group of investors for about US$1.7bn. The new owners are Chinese state-backed conglomerate Citic Ltd, Citic Capital Holdings and private equity firm Carlyle Group. They aim to open as many as 1,500 restaurants in smaller Chinese cities over the next five years. McDonald’s, which is retaining a fifth of the company, wants to (believe it or not) slim down. It’s been streamlining global operations. 2. Neiman Marcus scraps IPO plan Struggling department store operator Neiman Marcus has asked the US Securities & Exchange Commission for permission to withdraw its initial public offering registration. Neiman also operates the famed Bergdorf Goodman store in Manhattan. 3. Jamie Oliver restaurants face closure Ciao. Jamie Oliver will shut six of his Italian restaurants in the UK during the first quarter ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.