McDonald's fails to sell its Finnish arm
The American fast food restaurant chain McDonald’s has failed in its efforts to sell its Finnish arm.
The financial daily Taloussanomat reported in its Wednesday issue that the company has failed to attract any buyers of high enough standard to take over the unprofitable business. The campaign to divest the Finnish subsidiary has therefore been called off.
The deal would have covered the entire capital stock of McDonald’s Finland, in other words, all the licensing agreements and the restaurants in the firm’s possession.
McDonald's made landfall in Finland in 1984, when an outlet was opened in Tampere.
At present the chain has just over 80 restaurants in 38 locations. Around 80% of the outlets are franchised out to Finnish businesses, and the company employs roughly 3,200 persons in Finland all told.
The Finnish arm of the company reportedly posted a loss of EUR 9.5 million in 2005.
Helsingin Sanomat
