The world’s biggest burger chain has about 14,300 locations across the US, but with sagging sales, McDonald’s has been shutting down its restaurants at a faster pace than it has in decades. In a recent statement, the company announced it expects to close more of its restaurants than it opens domestically which hasn’t happened since 1970, informs sputniknews.com.
McDonald’s, which has enjoyed rapid expansion for much of its history, has been struggling to realign its business model as it faces competition from fast-food chains such as Chipotle Mexican Grill and Shake Shack, which have become more appealing to a generation concerned with healthier and higher-end fast-food.
The company’s executives conceded they have failed to keep up with changing tastes and CEO Steve Easterbrook, who took the position on March 1, has laid out plans to overhaul the company’s management and remove layers of bureaucracy, to return the focus to the customer and modernize the brand.
Despite the announcement, McDonald’s will likely easily remain the country’s biggest hamburger chain, as it still owns more than twice as many restaurants as the No. 2 chain, Burger King.