Finally our efforts to avoid processed foods and Frankenfoods are paying off. For the first time in decades McDonald’s is struggling and has to close more restaurants than it opens after worldwide drops in sales. According to an Associated Press review of McDonald’s regulatory filings, this hasn’t happened since 1970.
Earlier this year the fast food giant announced the closing of 350 underperforming locations, but recently admitted it had to close an additional 350 restaurants in the U.S., Japan, and China. The closings include both franchises and company-owned locations.
While this number may seem small compared to their total of about 14,300 locations, the iconic “Golden Arches” are under fire.
McDonald’s has reported an 11 percent decrease in revenue and a 30 percent drop in profit for the first three months of 2015. This is a continuation of their struggle as the competition in the US and Europe is getting tougher and food safety issues in Asia had to be addressed.