KFC Indonesia, owned by Gelael and Salim Group under PT Fast Food Indonesia Tbk (FAST), reported a net loss of 557.08 billion IDR (over US$36 million) for the third quarter of this year. This financial struggle led to the closure of 47 outlets and the layoff of 2,274 employees. The company reduced its store count to 715, down from 762 in 2023. A sharp 22.4% drop in food and beverage sales, totaling 3.57 trillion IDR, was the primary factor behind the loss. FAST’s leadership cited lingering effects of the Covid-19 pandemic and worsening market conditions as key contributors.
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