McDonald’s Might Be Closing At Least 2 Hudson Valley Locations
At least two Hudson Valley McDonald's are likely among 200 locations the fast-food chain is closing down.
On Tuesday, McDonald's announced plans to accelerate planned closures and shutdown 200 locations, Restaraunt Business reports. The burger-chain is shutting down what's described as "lower-volume restaurants," with more than half of the 200 closures coming from McDonald's located inside Walmart.
“The U.S. is accelerating some restaurant closures previously planned for future years,” McDonald's CFO Kevin Ozan said during an earnings call. “Of the 200 U.S. closures for this year, over half are low-volume restaurants in Walmart store locations.”
There are McDonald's located inside Walmart in Newburgh and Fishkill, according to McDonald's website. The company has yet to release a list of what McDonald's are closing or announce when the restaurants will close.
The closure announcement comes as the company reported its lowest quarterly profits in 13 years, People reports, according to the Financial Times reports.
McDonald's revenue has fallen by about 30 percent, CNBC reports. The coronavirus pandemic is blamed for the revenue loss and upcoming closures.
“In many markets around the world, most of notably in the U.S., the public health situation appears to be worsening,” McDonald's CEO Chris Kempczinski told CNBC.