How the mighty have fallen! Netizens gloat over Dennis Uy’s reported sale of Wendy’s, Conti’s

Dennis Uy

There’s no love lost for bilyonaryo Dennis Uy on social media amid reports that he’s planning to sell Conti’s Bakeshop and Restaurant, as well as the fast food chain Wendy’s.

Calls to boycott Conti’s started in 2018 when Uy bought a 70% stake in Conti’s, followed by his acquisition of Wendy’s a year later. Reuters reported on November 2 that Uy is in talks with a financial advisor to sell the two restaurants as a bundle as he looks for cash to service debts of his original business, Phoenix Petroleum.

“How the mighty are falling,” one said.

“I feel sad for the original owners of Contis. Pinaghirapan nila yan pero parang nasalaula ng bagong owners. The quality has changed. And if it’s sold again, the original taste will never be back,” another said.

Others saw the sell-off at Udenna as proof that Uy only flourished because of his political ties to Malacañang under former President Rodrigo Duterte.

“This is embarrassing and pretty much screams of cronyism as Uy’s company grew during the first 4 years of Duterte. Yet he still insisted he didn’t get any preferential treatment,” Twitter user @melaniegeusebio said.

Uy sold his controlling stake at the Malampaya natural gas project months ago to bilyonaryo Enrique Razon only a couple of years ago.

https://bilyonaryo.com/2022/11/04/how-the-mighty-have-fallen-netizens-gloat-over-dennis-uys-reported-sale-of-wendys-contis/food-nature/