McDonald's restaurant at Forum the Shopping Mall, Singapore – photo by Terence Ong

McDonald’s planning to sell franchise rights in key Asian markets

| McDonald’s Corp is planning a sale of 20-year franchise rights in Singapore and Malaysia that could collectively fetch at least $400 million (S$542.8 million), it has been reported | Suitors for the fast-food operations in the two South-east Asian markets have begun sounding out banks for financing – one potential bidder is in talks with lenders for as much as US$300 million in funding. McDonald’s is seeking local franchise partners to run its restaurants in Malaysia and Singapore as it pursues an international turnaround plan put in place after…

Read More

The world’s 50 best restaurants announced

A restaurant in Modena, Italy, won the top prize as the 2016 edition of the influential World’s 50 Best Restaurants list was unveiled at a New York City gathering attended by hundreds of chefs from around the world. Last year’s top two winners exchanged places: Osteria Francescana became the first Italian restaurant to reach No. 1, while El Celler de Can Roca in Catalonia, Spain, dropped to No. 2. Eleven Madison Park in Manhattan moved up from No. 5 to No. 3. But the biggest surprise was the announcement that…

Read More

Phoenix’s Peter Piper Pizza plan pep up

Peter Piper Pizza has some major plans in the works, including local and national expansion, as well as a major redesign. This is the first big move the Phoenix pizza chain has made since being acquired by Chuck E. Cheese’s parent company CEC Entertainment Inc. in 2014. “We’re about to be in our biggest period of expansion,” said Jason Greenwood, chief marketing officer. That includes three new locations in Phoenix: the far East Valley, around Queen Creek and Mesa; the south near Laveen; and central Phoenix, around Christown Spectrum Mall.…

Read More