A lot of fast food chains are facing tough decisions. Burger King is one such example of making the decision to shut down 2,000 of their restaurants as COVID-19 has decimated their already small market share.
McDonald’s is king of fast food. No point in denying it. Burger King has always been an after thought for family dinners and a second fiddle at best. The King and his court have been used to slow sales for years, but with the sudden and rapid decline of sales due to the COVID-19 pandemic, Burger King can no longer support all its locations and as a result the fast food giant with be taking a massive hit.
Bankruptcy may not be far off according to Leonard Gibbs (Vice Chairman of North American Operations, “I can’t imagine us making it through the next two quarters afloat. It is my opinion that we will be folding shop and selling off restaurants to our competitors to salvage when funds as soon as the beginning of 2021”.
Now is a good time to out and enjoy a Whopper before you can no longer get one in your area. Locations are expected to start shutting down starting early 2021.