Crown Bakery, once top gun in industry, quits franchising
The 25-year-old local midsize bakery franchise Crown Bakery decided to leave the franchise business after struggling to compete against large chains such as Paris Baguette and Tous Les Jours.According to industry sources yesterday, Crown Bakery has sent an announcement to franchisees saying it will get out of the franchise business Sept. 30.
It was reported that the chain would supply products to franchise stores until the end of this month and plans to have discussions with franchisees over compensation.
Crown Bakery was the country’s largest bakery franchise until the 1990s. Its stores fell from 252 in 2010, to 160 in 2011, 97 in 2012 and 70 this year due to the emergence of other bakery chains.
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)