It's crazy, that's almost £1.5M of debt per restaurant. I expect the independent pizza place next door has less than 10% of that on average
What does scare me though as only the most successful locations are worth that much debt per restaurant. They better not have any locations that are not in the highest performing locations. Of course their returns can be difference from McDonald's. I don't have any insight into their business to know if it is reasonable for the or not, but it passes the smell test of could be reasonable.