McDonald’s Pulls out of Iceland

dsc02041The last sign of Iceland‘s foray into globalization is gone. The small Arctic country is going to lose its three McDonald’s restaurants. Three locations were owned by Lyst Hr., all in the capital city, Reykjavik. According to Lyst, the economic situation was just too difficult, especially since the company had to by its supplies from Germany. The decline in the Icelandic krona relative to the euro just pushed costs too high. In order to be profitable, the Icelandic Big Mac would have to become the most expesnive in the world, at $6.36. Right now, it’s priced at $5.29, with the most expensive in Norway and Switzerland at $5.75.

[Via Gadling]

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