Could this be the end of one of the biggest fast food chains? Burger King stores have their days numbered. understand
It appears that the financial crisis has also hit one of the world’s largest fast food chains: The Burger King. The brand has decided to close 400 restaurants in the United States by the end of 2023, including 26 that have already closed operations in Michigan. Understand what is happening.
According to the CEO of Restaurant Brands Internacional Inc. , the owner of Burger KingThe decision was made after several restaurants in the chain filed for bankruptcy, including EYM King, which is headquartered in Michigan. EYM King announced in April that it would close 26 of its units in the greater Detroit area.
As a result, 424 employees lost their jobs. In total, 124 units have already closed this year in the United States. What’s interesting is that even with many stores closed, BK reported an 8.7% increase in its sales in country units.
EYM King was part of the EYM Group, a conglomerate that owns several franchises for some of the largest food brands in the United States. EYM owned franchises of Pizza Hut, KFC and other companies known to Americans, but EYM King was responsible only for Burger King franchises. I filed for bankruptcy in April.
Will Burger King go bankrupt?
In a letter to the state’s Department of Economic Opportunity and Employment, the company made it all clear. EYM King of Michigan said it was unable to reach an operating agreement with Burger King Corporation. Despite this, the company did not give more details about the negotiation attempt.
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Thus, EYM King of Michigan ended up shutting down all of its franchise operations in Michigan Burger King in the state. It is stated that this will happen due to “unforeseen business circumstances”.
Regarding the Brazilian franchises, the network has not made any statement that there will be unit closures. However, we need to wait to see what measures will be taken on Brazilian territory.
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