McDonald's Is Permanently Closing 200 Locations Across the U.S.
So, like, half of a block in Manhattan.
While local restaurants are far and away suffering the most during the COVID-19 pandemic, it turns out fast food giants are also feeling the negative effects of the virus-ravaged economy -- even McDonald's. The super chain announced this week that it plans to permanently close more than 200 stores in the United States due to the pandemic.
McDonald's president and chief executive officer Chris Kempczinski said on a call Tuesday that the company plans to shutter more than 200 locations, according to Business Insider. This call followed a press release announcing that revenues fell 30%, to $3.76 billion, in the second quarter.
The company said on the call that this was "an acceleration of closings planned for future years," which sort of sounds like the "I meant to do that" following a clumsy accident, but is believable considering McDonald's still plans to open over 900 new locations globally this year, according to BI.
While McDonald's first-quarter profits were less-than-ideal, as self-reported in early April, the fast food chain seemed able to stay afloat. As of June 30, most McDonald's restaurants around the world were open to serve customers in more socially distant ways, according to the second release.
"Our strong drive-thru presence and the investments we've made in delivery and digital over the past few years have served us well through these uncertain times," said McDonald's president and chief executive officer Chris Kempczinski, in the report.
Now, we can only hope that our McDonald's won't be the one to crumble; unless of course you live somewhere like NYC, where 200 locations could close on a single block.