Company founder Steven Marks says US stores will close as it can no longer justify cost of trying to break into crowded market
Guzman y Gomez is closing its US business after failing to establish itself in a market already rich with Mexican food, confirming the American country’s reputation as a “graveyard” for Australian fast food companies.
The Mexican-themed chain told shareholders on Friday that the performance of its US stores had not been acceptable, despite its well-publicised plans to “become the best and biggest restaurant company in the world”.
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This article was originally published by The Guardian and written by Jonathan Barrett Business editor.
Read original article on The Guardian