Tuesday, October 27, 2009

Grim Milestone: McDonalds Withdraws From Iceland After 3 Million Served

The Golden Arches announced they were pulling out of Iceland effective next weekend. The collapse of the Icelandic Krona and McDonald's [NYSE: MCD] requirement that the Icelandic franchisee imports much of the ingredients made many of the items on the menu cost prohibitive (just over $5 for a Big Mac, apprently).

Lyst Hr., the franchise holder for McDonalds in Iceland will keep the three locations open, but they will be operating under a different name and use locally available ingredients starting in November.

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