Queues and rising sales were not enough to keep Food Plus on a profitable footing. The company behind the expansion of US chain KFC in Greece recorded a loss of €578,117, compared with a profit of €703,000 in 2024, despite sales rising 5.52% to €48.145 million. EBIT fell to €60,556 from €1.37 million.
Loss-making years are nothing new for Food Plus, however. The company had also developed Pizza Hut, in Greece before all 16 of the chain’s restaurants closed in 2020. Since then, its business has focused on KFC, while its stake in Food Tex also links it to the development of the Taco Bell brand in the Greek market.
The deterioration is not confined to the bottom line. Shareholders’ equity fell to €4.22 million, dropping below half of the share capital. In its report, the auditor RSM Greece notes that the conditions for applying Article 119 of Law 4548/2018 are met. The article provides for a general meeting to be convened to consider appropriate measures.
At the same time, cash balances fell from €2.37 million to €1.40 million, while short-term liabilities rose to €12.31 million. Total liabilities reached €18.90 million, of which €8.1 million relates to bond loans and €6.99 million to amounts owed to suppliers. The financial statements also note that most of the company’s VAT debts have been placed under a 120-instalment repayment plan.
Food Plus continues to invest in expanding its network. At the end of 2025, it had 22 KFC restaurants in operation: 17 in Attica, three in Thessaloniki, one in Patras and one in Larissa. This year, the company, which has taken out a new €1.5 million loan repayable in December 2029, expects to add one more restaurant.