Burger King
Burger King worries over credit crunch impact
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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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June 27, 2024