Burger King worries over credit crunch impact

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Burger King

October 22, 2008
Source
Reuters
The global downturn is pushing consumers to Burger King's  stores in search of cheaper dining, but the company is worried that a prolonged credit crunch could hurt its franchisees' borrowing ability.

"In the short run, we've been somewhat of a beneficiary"of the downturn, Burger King CEO John Chidsey told Reuters in an interview in Taiwan on Wednesday. The company announced a new partnership and expansion plan in Taiwan.

"People who can't afford to go to (mid-priced restaurants) but still want to go out -- we've benefited from that. The question is if things get worse, do people decide at some point they should just stay at home?"

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    The BURGER KING® system operates more than 11,100 restaurants in all 50 US States and in more than 65 countries worldwide. Approximately 90 percent of their restaurants are owned and operated by independent franchisees

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