In a statement posted on its official Facebook page, the fast-food chain known as MOS Burger said it would be closing all its restaurants in Australia.
The company, which is based in Japan, had opened its first location in Queensland in 2011.
The company thanked its customers for making MOS Burger a special place in the country.
However, it noted that the restaurant would be closing its operations on August 31.
It has three locations in Queensland, including Upper Mount Gravatt, Sunnybank, and Southport. It is not clear how many of the company’s employees will be affected by the closures.
One of the customers who posted a message about the restaurant said that she was devastated by the news.
Australians reportedly don’t know what a good meal is.
Greg Hadley, who is known for his YouTube videos, also referred to the news as a sad day for the country.
The company, which was founded in 1972, is one of the largest fast-food chains in Japan. It is known for its “Mountain, Ocean, Sun” concept.
The closure of MOS Burger comes during a difficult time for the local restaurant industry.
According to CreditorWatch, about one in 13 Australian restaurants is expected to fail within the next 12 months due to the high costs and dwindling customer numbers.
The Australian Securities and Investment Commission (ASIC) noted that the food services and accommodation industry has experienced the second-highest number of insolvency cases in the country in recent years.
According to Suresh Manickam, the CEO of an industry group, the rising costs of running a restaurant are putting many establishments at risk.
Consumers have also become more cautious when it comes to spending money.
Mr Manickam noted that the rising costs of doing business have affected every aspect of the industry.