McDonald's to Close All Restaurants in Budapest, Hungary

Budapest Restaurants to Shut Down by Year's End

Company Cites Unsustainable Operating Environment

McDonald's has announced plans to close all 11 of its restaurants in Budapest, Hungary, by the end of the year. The decision comes after months of negotiations with franchisees and local authorities over rising costs and changing consumer preferences.

In a statement, McDonald's Hungary said that the operating environment in Budapest had become "unsustainable" due to a combination of factors, including:

• Rising food and labor costs
• Declining foot traffic in city center locations
• Increased competition from local and international fast-food chains

The company said it had explored all possible options to keep the restaurants open, including reducing operating hours and offering discounts. However, these measures were not enough to offset the rising costs.

The closure of McDonald's restaurants in Budapest will result in the loss of approximately 250 jobs. The company said it would work with affected employees