The owner of the outlet said they're planning on leasing the property the iconic eatery was housed in back from the new owner once its online auction is completed
Months after it was shut down, things are starting to look finger lickin' good for KFC's Linking Road outlet. The owner of the outlet said they're planning on leasing the property the iconic eatery was housed in back from the new owner once its online auction is completed.
The outlet, located in a ground-plus-two space in Kenilworth Mall, has been closed since February, after its second floor had to be shut over a legal issue. The said floor, owned by Bashirali Keshwani, has been listed for online auction by the State Bank of India this week, according to an SBI officer. The online auction process generally takes a week to get completed.
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mid-day had reported about the outlet downing shutters on April 16, in 'Legal wrangle shuts down city's first KFC'. The outlet was closed because Keshwani's friend defaulted on the payment of R39 crore on an SBI loan.
Keshwani had mortgaged the property as a guarantee to SBI against the loan taken by his friend. When the bank did not receive the money on time, they seized Keshwani's property, which was rented out to Ashok Bhatia, who owns the ground and first floor and runs the KFC outlet in them. Bhatia told mid-day that their business has been affected after the second-floor shop was seized. But, he added determinedly, that once the auction procedure is completed next week, they will lease the floor again from the new owner.
This means the outlet won't be relocated. According to Bhatia, the current place is apt as it is in the heart of the market area, which brings a heavy footfall. A source said KFC is losing a daily business of approximately R90,000 every day with this outlet being shut.
Also read: Mumbai: KFC outlet in Bandra forced to down shutters over non-payment of Rs 39.07 crore loan
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