Australian Fast-Food Chain Guzman y Gomez Exits US Market
Australian fast-food chain Guzman y Gomez announced its decision to exit the United States market, retreating from a key growth strategy. The company's shares surged following the news of its departure from what some have called a "graveyard" for Australian fast-food brands.
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Guzman y Gomez exits US after succumbing to ‘graveyard’ for Australian fast food chains
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...
By Jonathan Barrett Business editor
Read full article →Guzman y Gomez shares surge as much as 20% after fast-food chain says it will exit U.S. market
Guzman y Gomez's shares surged after announcing that it has decided to exit the U.S. market while keeping its Australian business as the main focus
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