Auntie Anne’s, a US pretzel retailer, is closing its branches in Myanmar after two years in the country.
The chain entered Myanmar in early 2019 and has three operations in Yangon: at Junction Square, Myanmar Plaza and Junction City.
On Thursday, the chain announced it will leave Myanmar next month. “Unfortunately, the changing operating environment has led to our decision of closing down the Auntie Anne’s outlets,” it said.
The Junction Square business closed on Wednesday with the other two to close by August 16.
Established in 1988, the chain reportedly has more than 1,000 operations worldwide and serves pretzels, dips and beverages.
The Irrawaddy was unable to obtain a comment from the Yoma Group of Companies, Auntie Anne’s franchisee in Myanmar, about the closures.
In June, Taiwan-based KOI Bubble Tea Shop closed down its operations in Myanmar.
Foreign companies are suspending or shutting down their operations in Myanmar due to the impact of coronavirus and the military coup, which have reduced demand, limited the availability of supplies and disrupted cash flow due to the banking crisis.
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