McDonald’s Franchisee Pulls Out Of Iceland

QSR Web:

Iceland will lose its three McDonald’s locations this week due in part to the country’s devalued currency,
according to a story in The Globe and Mail.

Iceland’s krona has lost nearly 70 percent of its value against the euro over the last year and a half, driving up the franchisee’s costs for imported products from Germany, including beef and cheese.

The franchisee plans to reopen the stores under the name Metro, another burger concept…