McDonald's may give franchisees a coronavirus rent break
In the U.S., restaurants are operating for drive-thru, delivery and take-out only
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McDonald's Corp. said it is working with its global franchisees to evaluate their operations amid the coronavirus pandemic and explore liquidity measures such as rent deferrals.
The fast-food chain Wednesday also said it is working with suppliers on contingency planning to ensure supply.
The company said it has closed all restaurants in countries such as France, Italy, Spain and the U.K. as measures to contain the pandemic have crippled businesses. It has limited operations, which include drive-thru, delivery and take-out, in markets such as Australia, Canada and Germany, the company said.
PENCE PRAISES MCDONALD'S CORONAVIRUS CURBSIDE DELIVERY FOR TRUCKERS
In the U.S., restaurants are operating for drive-thru, delivery and take-out only, with limited menu and hours, McDonald's said.
Restaurants are operating in Japan, and its China business is operating about 95% of restaurants, McDonald's said.
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The company said the pandemic's effect on its business could be material, adding that it can't yet predict the scope of the health crisis. It said it would provide an update on its first-quarter earnings release.
McDonald's also added a set of risk factors to its regulatory filing to reflect the pandemic's effect.