McDonald’s has closed its iconic restaurant on 42nd Street in New York City’s Times Square.
The closure had been planned prior to the pandemic, the company said in a statement to CNN Business, noting that it “was a difficult decision.”
But McDonald’s (MCD) will still have a large presence in the area.
McDonald’s and the International Olympics Committee (IOC) are ending their long-running sponsorship deal three years early.
The fast food chain said it was “reconsidering all aspects of its International Olympics Committee business” as part of a plan to re-invigorate its business.
The IOC said it understood “that McDonald’s is looking to focus on different business priorities”. The partnership began in 1976.
“For these reasons, we have mutually agreed with McDonald’s to part ways,” said the IOC.