BurgerFuel announces Iraq exit
The burger chain first entered Baghdad in 2012.
BurgerFuel has announced its exit in Iraq after closing its remaining store in Baghdad due to escalating conflict in the country.
“Given the ongoing turmoil and recent escalation of major potential warfare, the company saw no prospect of operating in Iraq in the future,” the burger chain said in a statement sent to the NZX.
The New Zealand-based company has reported last September 2019 that its Middle East division’s overall sales dropped by 13% year-on-year due to the closure of one Iraq store, bringing total store count to 79 internationally.
The burger chain, however, sees no material effect of its Iraq exit on its earnings.
BurgerFuel first entered Baghdad in 2012.
Photo Credit: BurgerFuel Facebook
