Iceland is "McDonald's free"

[~°2012°~]

REYKJAVIK, Iceland – The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation's overexposure to the world financial crisis.

Iceland's three McDonald's restaurants — all in the capital Reykjavik — will close next weekend, as the franchise owner gives in to falling profits caused by the collapse in the Icelandic krona.

"The economic situation has just made it too expensive for us," Magnus Ogmundsson, the managing director of Lyst Hr., McDonald's franchise holder in Iceland, told the Associated Press by telephone on Monday.

Lyst was bound by McDonald's requirement that it import all the goods required for its restaurants — from packaging to meat and cheeses — from Germany.

http://news.yahoo.com/s/ap/eu_iceland_mcdonald_s

[SuuT]

Something good was bound to come out of it all, Dr. Who.

[~°2012°~]

Something good was bound to come out of it all, Dr. Who.

Yes the good thing is how the process works like pure natural selection. Im waiting for KFC to go next.. gawd I hate that chain :bullet puke

[Eldritch]

There were only three McD's in Reykjavik? In downtown Helsinki, if you toss a brick over your shoulder there's 50/50 change you'll smash the window of a McDonald's.

An Icelandic friend of mine once told me he wanted to move to Greenland to raise his kids, cause it's clean quiet and "there's no McDonald's there". :coffee:

This reminds me of a funny picture I saw on the net recently, titled McDonald's is everywhere!

http://wouldibuyitagain.files.wordpress.com/2009/09/mcd_us_high_9_25.jpg?w=499&h=362

[The Lawspeaker]

Indeed- something good was bound to come out of it all and I hope that the other fast food chains will take a hike as well.
If only the economic crisis here in the Netherlands would have the same effect..

[SwordoftheVistula]

Indeed- something good was bound to come out of it all and I hope that the other fast food chains will take a hike as well.
If only the economic crisis here in the Netherlands would have the same effect..

The Euro is strong, so doubt it. In this case it was the steep fall in Iceland's currency that caused the problem, since McDonalds required them to import all their materials from the EU. McDonalds, like many franchises, maintains strict control over what materials may be used and so on to ensure standardization, and I guess McDonalds corporate decided these could only be found in the EU. Since these make it too expensive for them to continue business in this manner, they are getting rid of the McDonalds brand but keeping the restaurants open under a new name with the same employees but using more locally produced materials.

The Eurozone has the opposite problem, worried about the Euro being 'too high'

http://www.forbes.com/feeds/afx/2009/10/14/afx6998646.html

[~°2012°~]

The Euro is strong, so doubt it. In this case it was the steep fall in Iceland's currency that caused the problem, since McDonalds required them to import all their materials from the EU. McDonalds, like many franchises, maintains strict control over what materials may be used and so on to ensure standardization, and I guess McDonalds corporate decided these could only be found in the EU. Since these make it too expensive for them to continue business in this manner, they are getting rid of the McDonalds brand but keeping the restaurants open under a new name with the same employees but using more locally produced materials.

The death of McDonald's is still bread for Icelandic farmers. Fast food chains and restaurants can no longer import standardized, foreign meat, cheese and vegetables, because the fall rate doubled the cost. Now they (those who will survive) turn to domestic production, which will create more jobs. This is a sign of the decline of globalization in Iceland, which is of course very good, it will reduce imports and increase domestic production. A thorn in the spine of those who want to join the European Union just to get the euro.

[Wölfin]

There was only one McDonald's in my neighborhood. It closed down due to bankrupcy about 4 years ago. Guess there's one advantage to living in a "hipster" area...

[Brännvin]

Eat whale meat, much better than American Mac SHITS, suckers!

[Manifest Destiny]

I have sympathy for my Icelandic brethren. I don't know what I would do without McDonald's delicious chocolate milkshakes and $1 McChickens.

Should we allow Icelanders to request political asylum in civilized nations?

;)

[The Lawspeaker]

I don't know what I would do without McDonald's delicious chocolate milkshakes and $1 McChickens.

And when the Icelanders too would suddenly start missing those two: sell the license to produce to the Icelanders and have local shops cash in on it

[Geopagan]

Wow, I'm surprised that there were only 3 to begin with. That's a pretty good sign that McDonald's didn't even have as strong a grip there from the get-go.

But I've also read that Icelanders are heavy consumers of Coca-Cola; I'm trusting that will subside (if it hasn't already) as well.

[SwordoftheVistula]

But I've also read that Icelanders are heavy consumers of Coca-Cola; I'm trusting that will subside (if it hasn't already) as well.

Probably not too much, since they get the syrup from the US, which also has a currency which has fallen in value, and mix it with local water and sweeteners.

[ikki]

I have sympathy for my Icelandic brethren. I don't know what I would do without McDonald's delicious chocolate milkshakes and $1 McChickens.

Should we allow Icelanders to request political asylum in civilized nations?

;)

€1 cheeseburgers, kinda useful as snack when headed home in the city night :p

[Óttar]

€1 cheeseburgers, kinda useful as snack when headed home in the city night :p
Yes, but the true economic cost is much higher considering its impact on health.

[Taciturn]

Yes, but the true economic cost is much higher considering its impact on health.

I seriously doubt that having a cheeseburger from McDonald's every now and then is going to have any discernible impact on a person's health.

On a semi-related note:

31JNEVHZxO8

[sturmwalkure]

Indeed- something good was bound to come out of it all and I hope that the other fast food chains will take a hike as well.
If only the economic crisis here in the Netherlands would have the same effect..

It's going to have to take at least a fourth great depression, more like a nuclear holocaust for McDonald's to disappear from America though. ;)

[Atlas]

We've been discussing fast food before on here. Good riddance ? I don't know. The truth is that Mac donalds are convenient when you run out of time to go to a normal restaurant for lunch. In France they are still very popular although the kebabs and also the "typical" french sandwishes are other serious opponent market to them. I'm not opposed to Mac Donalds since there are many other type of foods that can get you fat, but still, it's a bit expensive for what it is.

[Bard]

I hate mcdonald so nice one imho.

[Fortis in Arduis]

What a shame, I thought the thread title said 'Ireland'. :( ;)


It's going to have to take at least a fourth great depression, more like a nuclear holocaust for McDonald's to disappear from America though. ;)

No, McDonald's will survive everything, along with Cher and cockroaches. :cool: