San Francisco McDonald's closes after minimum wage hike destroys business [VIDEO]

A longtime McDonald's located in San Francisco's Stonestown Galleria shopping center closed its doors Sunday, marking the end of more than 30 years of service. The closing is attributed to the recent implementation of California's $20 minimum wage.

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Franchise owner Scott Rodrick cited the new statewide minimum wage hike, along with challenges such as inflexible landlord negotiations over long-term rent, high property taxes and a high mall tenant, as contributing factors to Stonestown's closure. McDonald's

BREAKING NEWS

CALIFORNIA COLLAPSES

San Francisco McDonalds closing.

The Stonestown Galleria McDonald's is closing today after more than 30 years of successful business.

It's just not safe anymore. Families are NOT safe.

Also, the cost of doing business in California is very high… pic.twitter.com/OY4Qik4KKt

— World Peace Movement (@darren_stallcup) June 23, 2024

After the increased minimum wage went into effect on April 1, numerous California businesses, including the historic Arby's Roast Beef in Hollywood and several locations of Rubio's Coastal Grill, have also faced closings. This trend has been further reflected in the shares of major fast food chains such as McDonald's, Wendy's, Burger King, Starbucks and Chipotle which raised their prices by up to 8% in response to the new regulations.

Price hikes implemented by these fast food chains have led to a noticeable decline in customer visits, the analytics firm reports. Placer.ai. These developments underscore the tangible impact of California's minimum wage increase on the state's business landscape.

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