NEW YORK Irwin Kruger, a McDonald’s franchisee for the past 42 years, is selling his four restaurants here back to the franchisor, but he said he is not retiring from foodservice.
Kruger, whose McDonald's stores include the 17,000-square-foot unit in ManhattanÕs Times Square, said Tuesday that he intends to pursue new opportunities in the restaurant industry.
"Retiring isn't the word," he said, "but I'm not going to be a McDonald's franchisee in April. I'm mulling over ideas I have and am still trying to sort everything out."
He added that he probably would continue operating fast-food restaurants, but he wouldn't divulge which brands he was interested in pursuing. "Quick serve is the arena I'm most familiar with, really," he said.
Oak Brook, Ill.-based McDonald's, which franchises about 90 percent of its 14,000 domestic locations, offered no details about its agreement to buy back Kruger's stores.
"Like all transactions pertaining to a change of ownership, that agreement is considered confidential," a McDonald's spokeswoman said.
Contact Elissa Elan at [email protected].
