Burger King has been in the news lately, because of its forthcoming acquisition of the Canadian company Tim Hortons and its possible move to Canada. This, naturally, has everyone up in arms because an American company is fleeing American taxes. The critics rightly point out that since Burger King will contribute 73% of the revenue (in 2003 terms) to the combined company, the combined firm should be located here...um, whoops, it seems I got my figures wrong. Based upon 2013 revenues, Burger King's US and Canadian operations will contribute a whopping 16% of the combined revenue, with another 11% from Burger King operations in the rest of the world. Yup, Tim Hortons will contribute 73% of the revenues.
A little sobering...but not surprising when you look at things at the local level.
Some time last week, the Burger King in Montclair at the corner of Central and Palo Verde closed its doors, joining closed Burger Kings in east Ontario and other locations.
You never hear about a McDonalds closing, and although you might have an occasional Arbys close here and there, it seems that a fair share of Burger Kings have closed over the last few years. And 3G Capital has been closing company-owned Burger Kings.
Or am I just hypersensitive to these closings?