
McDonald's has decided to sell all of its outlets in Taiwan. The fast food chain noted that the move is meant to streamline its overseas operation and McDonald's has no intention of leaving the Taiwan market.
McDonald's issued an official statement explaining that the company is looking for a franchisee, who is willing to operate all of its 413 outlets in Taiwan, Business Insider reported.
The sale of McDonald's 413 outlets in Taiwan will also mean a cash inflow of $323 million (around NT$10 billion) to the U.S. company. The BBC reported that if the deal pushes through, it would mean the end of 31 years of McDonald's direct control of the Taiwanese outlet stores. Around 20,000 crew and staff will be affected.
McDonald's reported last April that it had shut down around 350 of its outlets around the world. In the United States, the number of McDonald’s outlets has reduced this year.