McDonald’s has announced plans to invest £1bn over the next four years in order to open 200 new restaurants, creating more than 24,000 new jobs across the UK.

The fast food chain said the new restaurants are part of its ongoing investment which will see a roll out of testing new restaurant formats, with Drive To restaurants recently launched, and additional smaller formats being trialled this year, to ensure that “every new restaurant meets the needs of the community in which it operates”.

McDonald’s operates over 1,500 existing restaurants in the UK and Ireland, and these locations will undergo an "upgrade and reimage" as part of the new investment.

Chief executive officer at McDonald’s UK and Ireland, Alistair Macrow, said: "We have come a long way since we first opened our doors in Woolwich 50 years ago. We have become an important part of communities across the UK, and I’m delighted that in this milestone year we are able to demonstrate our ongoing commitment to growth, and announce the creation of new jobs across the country as we plan to open over 200 new restaurants over the next four years."

As part of the plans, McDonald’s said it would see a "renewed focus" on opening high street restaurants, "demonstrating an ongoing commitment to supporting successful high streets" across the country.

In 2023, over 209,000 jobs were supported by McDonald’s, including 171,000 employed by the group and its franchisees directly.

It added that £618m was invested in delivering new restaurants and upgrades between 2018 to 2023, with 41 new stores opened by the chain in 2023, the highest number in two decades.

Head of financial analysis at AJ Bell, Danni Hewson, added: "Getting customers back through the doors is something McDonald’s is working hard to do. From new menu items, to new store formats, the burger chain is on the offensive.

"Opening new stores at a time when sales are down might seem counter-intuitive. But if it can get the offer right and be in the right spot when people are taking their lunch breaks, it should be a recipe for growth.

"It’s also a sign of confidence in UK high streets and, more importantly, a big job creator for those youngsters taking their first steps into the world of work."

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