The Story of McDonald’s Failure in Iceland
McDonald’s is synonymous with fast-food in many parts of the world, but there is one country where it’s failed to capture national attention. Iceland celebrated the fast-food chain when it entered in 1993, but a global economic collapse during the next 15 years forced McDonald’s to exit the Nordic region. Learn more in the below video.
CNBC
Conclusion on Failure of McDonald’s Failure in Iceland
In 2008, the country of Iceland suffered a significant economic collapse, and suddenly the Icelandic króna wasn’t worth nearly as much as it had been in better days.
Iceland Review reported that McDonald’s regulations called for the use of imported beef, and suddenly the cost of this, as well as of the cheese and vegetables needed to make the burgers, was way too high for the restaurants to continue to turn a profit.
Instead, all three McDonald’s locations in Reykjavik ceased to operate, and were later converted into an Icelandic burger chain called Metro that was permitted to make use of tariff-free local ingredients.
Mashed.com
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