It seems that the financial crisis has hit one of the largest fast food chains in the world: 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.
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According to the CEO of Restaurant Brands Internacional Inc. , the owner of Burger King, the decision was made after several decisions Restaurants Many of the network have 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.
No agreement between EYM and Burger King
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, Kentucky Fried Chicken and other companies known to Americans, but EYM King was only responsible for Burger King franchises.
she claimed bankruptcy in April.
In a letter to the state Department of Economics and Employment, Michigan’s EYM King 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.
In this way, EYM King of Michigan ended up closing all of its operations discount (discounts Burger King in the state, stating that this would 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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