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Popeyes, a US-based fried chicken franchise, said Friday that it would cease to operate in South Korea, 26 years after it opened its first outlet in 1994.
The Korean operator, TS Food & System, said its franchise contract with the US headquarters is set to end at the end of this year.
Popeyes, which at one time owned over 200 outlets here, has been struggling against poor sales.
With the COVID-19 pandemic the business faced even more difficulties, and the number of stores was reduced to 10 in the second half of this year, the company said.
The food chain reportedly sought potential buyers in September.
By Jo He-rim (herim@heraldcorp.com)
The Korean operator, TS Food & System, said its franchise contract with the US headquarters is set to end at the end of this year.
Popeyes, which at one time owned over 200 outlets here, has been struggling against poor sales.
With the COVID-19 pandemic the business faced even more difficulties, and the number of stores was reduced to 10 in the second half of this year, the company said.
The food chain reportedly sought potential buyers in September.
By Jo He-rim (herim@heraldcorp.com)
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