McDonald's leaving Iceland
McDonald's leaving Iceland
McDonald's is pulling out of Iceland. The fast food chain says that it is now too expensive to operate in Iceland.
Tourists on holiday in
Iceland will no longer be able to visit McDonald's restaurants. According to the BBC, the restaurant chain is closing its three outlets in Iceland and has no plans to return in the future.
McDonald's has blamed Iceland's financial crisis for its departure from the country. Following the collapse of Iceland's banks at the peak of the global economic crisis, the cost of importing goods has almost doubled for McDonald's.
The restaurants were said to have been busier than ever recently. However, profits are at an all time low. Lyst, the company that owns the McDonald's franchises in Iceland, will run the restaurants under a different name and use Icelandic products.
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