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Dream - McDonald's has decided to close all of its outlets, which total 12, in Sri Lanka. This fast food restaurant from the United States has terminated its agreement with its local partner, Abans.
According to Reuters, McDonald's lawyer, Sanath Wijewardane, revealed that the parent company has decided to terminate the agreement due to standard issues.
"The parent company has decided to terminate the agreement with the franchise holder due to standard issues."
Sanath Wijewardane's words.
Wijewardane did not explain the intended problem. However, local media reported that McDonald's filed a lawsuit against Abans over allegations of poor cleanliness.
Abans is a local partner in Sri Lanka that holds the franchise license for the fast food business. Meanwhile, the local partner spokesperson, Abnas, declined to comment on the decision.
As information, McDonald's was first opened in Sri Lanka in 1998. Sri Lanka is an island in the Indian Ocean with a population of 22 million people, which is currently in the process of recovering from a major financial crisis.
"Previously, Reuters also reported on the boycott of McDonald's products due to the Israel-Hamas war, which caused this fast food restaurant to fail to achieve sales targets. According to Reuters, based on the company's financial report in 2023, sales in the international business division only increased by 0.7% in the fourth quarter of 2023. This achievement is far from the estimated growth of 5.5%."
The McDonald's stock also dropped by up to 4 percent. McDonald's CEO, Chris Kempczinski, stated that their business in Malaysia, Indonesia, and France has also been affected, with the biggest impact felt in the Middle East.
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