An Aussie-born Mexican-themed fast food chain is pulling out of the United States in a spectacular turnaround on its American market ambitions.
Stock exchange-listed Guzman y Gomez made the announcement on Friday, saying its restaurants in Chicago will cease trading immediately.
The decision was made because the financial performance of the US business was not acceptable or meeting targets.
"I have always been confident in the differentiation of our food and guest experience, however this was not translating to an improvement in sales momentum," founder and co-chief executive Steven Marks said.
Guzman's US experiment lasted about six years, after it opened its first store in Chicago in January 2020.
"I realised this was going to take significantly more time and capital than we had expected," Mr Marks said.
