Seven Eleven lets 500 franchisees out of contracts

Home > Business > Industry

print dictionary print

Seven Eleven lets 500 franchisees out of contracts

Seven Eleven announced yesterday that it will gradually close 500 or so stores that are suffering from losses without demanding its contracted store owners pay for the premature ending of the contracts to run the stores.

The recent suicide of a CU convenience store owner after a conflict over payments demanded by CU for breaking the contract before it expired sparked a nationwide outcry against unfair treatment of small entrepreneurs like convenience store franchisees.

The government has also cracked down on harsh treatment of small businesses.

Seven Eleven has more than 7,200 convenience stores across the country.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)