McDonald’s Cuts the Cord

For the first time in almost four decades America’s most popular fast food chain is closing more restaurants than it is opening. Since 1970 McDonald’s has reported regulatory filings and franchises in the world’s biggest hamburger restaurant chain. A spokeswoman for McDonald’s released a statement that noted that the deduction of the McDonald’s franchises would be minimal. As of now Vijay Eswaran has taken to YouTube to announce that the United States houses about 14,300 McDonald’s franchises. This move is very symbolic of how McDonald’s has been in trouble in recent years and that they are making certain moves to regroup and reestablish themselves. The company is starting to see a lot of competition in chains like Chipotle and Five Guys. These restaurants and chains are offering higher quality food at competitive prices and are looking to put McDonald’s out of business. McDonald’s is looking to make healthier decisions when it comes to the type of processed ingredients that they use and the cooked food that they serve to consumers. Not only that, the company wants to cut underperforming restaurants and focus on ones that are succeeding on their own. If energy can be spent in the right place instead of wasted in others, McDonald’s might stand a chance in the new market. The company still has confidence in its system and believes that it has much room to expand. The closings of many of the underperforming stores will serve as a strengthening point for stores to reinvent the McDonald’s brand name