An estimated 155 to 200 people will lose their jobs, as the Wendy’s restaurant chain withdraws from Costa Rica. Citing price competition as a threat to quality, management at the Comidas Rápidas Wentica S.A. will put an end to its eight years of operations in this country.
In a video, A spokesman for the company cited low profitability relative to real estate prices and rising costs in Costa Rica, as being a factors in the decision to liquidate.
Per capita, Costa Rica is ranked third worldwide in number of restaurant franchise locations.
The firm has reaffirmed its legal obligation to paying severance and other benefits for separated employees, as required by law.