Hard Rock Cafe declared the closure of 10 of its outlets across India on Monday. The sudden announcement comes following the termination of its licensing agreement with the Indian partner managing Hard Rock, JSM Corporation Pvt.
Hard Rock Cafe, the prominent brand among global hospitality, declared the closure of 10 of its outlets across India on Monday. The sudden announcement of the suspension of operations for cafes comes following the termination of its licensing agreement with the Indian partner managing Hard Rock, JSM Corporation Pvt.
In the official statement released by Hard Rock International, it stated, "Hard Rock International has formally terminated its agreements with JSM Corporation Pvt Ltd. and related entities covering the right to operate all Hard Rock Cafes and Rock Shops within India." The cafes of 10 locations are in Bengaluru (Hard Rock Cafe and Bengaluru International Airport), Bengaluru Whitefield, Chandigarh, Chennai, Hyderabad, Hyderabad Hitech City, Kolkata, New Delhi, and Pune.
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The closure of these outlets is expected to impact hundreds of employees working at the locations.
Hard Rock remains operational in ,Goa
Hard Rock Hotel located in Calangute, Goa, remains functional as per the statement by Hard Rock International.
"Hard Rock Hotel in Goa is unaffected by the split and will continue operating as normal. The Goa property is operated by a separate entity and has no connection to JSM Corporation," it clarified.
The termination of the licence agreement was due to high rent defaults, declining profitability, and strategic and operational differences between Hard Rock International and JSM Corporation Pvt.
Hard Rock International, however, has assured that it is exploring options for restructuring its presence in India and continuing its legacy in the country through alternative partnerships or direct operations.
