McDonalds withdraws from Iceland

McDonald's backs out of Iceland amidst a global economic crisis that has left the company vulnerable to soaring costs.

The closure, this month, of the fast-food chain's three restaurants, means Iceland will become one of the few European countries with no Big Macs to sell.

The company opened in Reykjavik in 1993 as a franchise operation run by a firm called Lyst. Owner Jon Gardar Ogmundsson said it made no sense to continue the business. Despite growing demand, profits have plummeted.

McChange

Chances are there is a new dark ‘Hunter Green’ McDonalds near you by now. As a response to negative market research, critical city centre planning authorities, declining sales and fierce competition from the likes of Starbucks, the famous bright red frontage has been replaced by green in order to communicate to customers that McDonalds had changed some of its much publicised unethical ways. McDonalds appears now more of a restaurant than the petrol stations they frequently cohabit. The interiors too are less brash and feature modern art and subtle lighting showing that McDonalds understands the masses have become more discerning and sophisticated.