News Source: CNN
| 29 days ago
Businessman Magnus Ogmundsson, who owns the only McDonald's franchise in Iceland, said it had become too expensive to operate the restaurants after Iceland's currency, the krona, plunged in value. "The krona is quite weak and we are buying everything...
News Source: NewKerala
| 29 days ago
Import costs have rocketed as the Icelandic currency has dropped in value to other currencies in the wake of the financial crisis that hit Iceland a year ago. The first McDonald's restaurant opened 1993 and the country's then prime minister David...
News Source: Fox News
| 29 days ago
McDonald's Corp. will withdraw from Iceland later this year, shutting its two restaurants in the crisis-hit nation on Nov. 1 because of rising costs, according to media reports Tuesday. The fast-food restaurant chain said it imports all resources for...
News Source: The Guardian
| 29 days ago
McDonald's is pulling out of Iceland next week, in a fresh blow to the island nation a year on from a financial crash that nearly left it bankrupt. The closure of the fast-food giant's three restaurants on Monday means Iceland will become one of the...
News Source: International Herald Tribune
| 29 days ago
The company that all three of its restaurants in Iceland, operated by a franchisee, Jon Ogmundsson, would stop operating at midnight on Saturday. Mr. Ogmundsson has run the McDonald’s restaurants since 2004. He told Reuters that the decision to...
News Source: The Economic Times
| 29 days ago
McDonald's Corp said on Monday it would shutter its business in Iceland in the wake of the country's financial crisis, saying the economy and other challenges made doing business there financially impossible. The world's largest fast-food company...