KFC Closes Some South African Outlets As Power Outages Make Operations Difficult: Report

by Shivani Kumaresan, Benzinga Staff Writer

December 28, 2022 7:44 AM | 1 min read |

Yum! Brands Inc YUM unit KFC is temporarily closing a few South African outlets because of power outages.
The brand would close some of its restaurants, with the others having limited availability, Bloomberg reported.
The move comes after the power outage reached 200 days in 2022.
South African state electricity provider Eskom Holdings SOC Ltd imposed the power cuts to stop grid collapse.
Eskom supplies about 90% of South Africa’s electricity.
The electric utility has mounted huge debt and was awarded government bailouts.
KFC has about 750 outlets in South Africa.
Also Read: Pizza Hut Parent Yum! Brands Clocks 2% Top-Line Growth
Price Action: YUM shares closed higher by 0.78% at $129.90 on Tuesday.
Photo Via Wikimedia Commons

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