McDonald's in downtown Ho Chi Minh City to shut down after a decade
McDonald's in downtown Ho Chi Minh City to shut down after a decade
Fast-food chain McDonald's Vietnam announced Monday it would close its store near Ben Thanh Market in District 1, Ho Chi Minh City from 2:00 am on Thursday after ten years of operation.
McDonald's Ben Thanh in downtown Ho Chi Minh City. Photo: McDonald's Vietnam |
The chain did not disclose the reason for the closure.
As one of the first stores in Vietnam, McDonald's Ben Thanh lies at a prime location in the southern metropolis, welcoming crowds of customers from the iconic Ben Thanh Market and Bui Vien Walking Street.
Therefore, the announcement of its closure is drawing public attention.
Many patrons are surprised the store will not wait and maintain operations until the city's first metro line, which runs from Ben Thanh Market in District 1 to Suoi Tien Theme Park in Thu Duc City, goes into service.
Once the metro link begins commercial operations, scheduled for the fourth quarter of 2024, the McDonald's store would be in an ideal situation.
After McDonald's Ben Thanh closes, the U.S. fast-food chain will still maintain 35 stores in Vietnam, with 17 located in Ho Chi Minh City.
This closure, a month after the shutdown of a Starbucks Reserve store, signals rising uncertainty and fierce competition in the local food and beverage (F&B) market.
Several international brands are shouldering higher operation and property costs, as well as the ever-changing Vietnamese consumer habit.
An F&B expert assessed that these brands might be moving toward their restructuring plans to optimize business performance.
The imminent shutdown of the McDonald's Ben Thanh store showed its adjustment to suit market uncertainties.
