MCDONALD’S LOSES BRANCHES IN FINLAND AS RIVALS PUSH FOR MARKET SHARE
January 1st, 2016
COMPETING fastfood chains are snapping at McDonald’s heels in Finland as the global player closes branches. McDonald’s now has just 72 outlets after chopping 10 in 2015. The remainder largely consists of franchises (59) with the rest owned by the Finnish subsidiary (13). The latter figure is the result of a 21-year franchisee's retirement and sell-back to HQ - doubling the total. But of the 10 closed, nine were franchises. And in the 28 years McDonald's has been in Finland, the bottom line has overwhelmingly been red, accumulating losses of EUR84 million ...
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