Eight Guzman y Gomez restaurants in the Chicago area permanently closed on May 22, ending the Australian chain’s nearly six-year run in the U.S.
CEO Steven Marks said the brand’s food and guest experience were not translating into better sales momentum, and turning the business around would require far more time and capital than expected.
The board concluded the U.S. network was unlikely to generate returns that justified further shareholder investment, despite Marks spending the past three months in the market assessing the business.
The exit appeared abrupt because GYG had recently promoted U.S. growth ambitions, even saying in 2023 that success in America was essential to becoming the world’s top fast-food company.
GYG still operates about 240 locations in Australia and roughly 30 more across Singapore and Japan.
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