McDonald's is permanently closing 200 of its U.S. restaurants due to the coronavirus pandemic.
These closings come in the wake of the company's lowest quarterly profits in 13 years. The company's net income fell by 68 percent.
“In many markets around the world, most of notably in the U.S., the public health situation appears to be worsening,” CEO Chris Kempczinski said. “Nonetheless, I believe that Q2 represents the trough in our performance as McDonald’s has learned to adjust our operations to this new environment.”
McDonald's joins a host of other national chains that have permanently shut down locations due to the pandemic, including IHOP, Denny's, Ruby Tuesday, and TGIFridays.