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After the owner of Cafe Coffee Day VG Siddhartha’s tragic and shocking death by suicide due to a debt crisis, his wife, Malavika Hegde, saved CCD from dying. The coffee shop was started at Brigade Road in Bangalore in 1996. After the death of Siddhartha, many felt that the company would not survive because of the accumulated debt. However, Malavika Hegde, managed to make a breakthrough and saved the company from dying.
She took over as CEO of CCD in December 2020 and from that day worked tirelessly to revive the company. In 2019, there was a debt of over Rs 7,000 crore. Malavika who is none other than the daughter of former Karnataka Chief Minister SM Krishna was committed to reduce the company’s debt and make it a multi-billion dollar company. She slowly succeeded in reducing the debt of the company each year.
Currently Cafe Coffee Day owns 572 cafes across the country and 333 Cafe Coffee Day Value Express kiosks.
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