McDonald's Closure Is Latest Blow To Iceland

McDonalds is serving up its last Big Mac in Iceland. The country's collapsing currency made importing things like chicken nuggets too expensive.

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GUY RAZ, host:

Jonathan Safran Foer probably won't lament the news out of Iceland this past week. At midnight, the griddle masters at Reykjavik's three McDonald's outlets served up the last Big Macs. The Golden Arches will no longer illuminate the skyline of the island's capital.

The collapse of Iceland's currency, the krona, drove up the price of a Big Mac to $6.36, by far the most expensive Big Mac in the world. And the problem began with´┐Ż

Mr. JON OGMUNDSSON (Managing Director, McDonald's Iceland): Meat, cheese, chicken, bread and so on.

RAZ: That's what Jon Ogmundsson had to import into Iceland. He's the managing director of the McDonald's franchise in Iceland, and everything he sold, every chicken nugget, every Happy Meal, every McRib, had to be flown in.

Mr. OGMUNDSSON: I have to fly all the salads and onion twice a week to Iceland. And seeing as petrol prices also has rised and the Icelandic krona has collapsed, all this kind of cost, of course, has more than doubled.

RAZ: Iceland now joins Bosnia, Albania and the Vatican as one of the few places in Europe without McDonald's. But there is good news for Icelanders jonesing for a late-night grease fest. Jon Ogmundsson has other plans.

Mr. OGMUNDSSON: I'm opening a new local chain that I have made myself, opening three restaurants called Metro. And we will sell similar products, but improved and with all meat and cheese and everything will be Icelandic-made.

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