By John Lee.
New Zealand-based Burger Fuel Group Limited (BFG) has advised the market that its Master Licensee in Iraq has closed its last remaining BurgerFuel store in Baghdad.
In a statement, the company said:
"Whilst Iraq did experience a period of stability a few years ago and two BurgerFuel restaurants were operating at one point, the situation in Iraq has progressively worsened.
"Given the ongoing turmoil and recent escalation of major potential warfare, the company saw no prospect of operating in Iraq in the future.
"BFG advises that there will be no material effect on its earnings as a result of the single store closure in Iraq."