After 30 years of presence: McDonald’s leaves Russia
The American fast food chain closed, albeit temporarily, all its establishments in March, after the beginning of the Russian invasion of Ukraine
McDonald’s has announced that it has started procedures for its complete exit from the Russian market, where it has been present for 30 years, and will continue to pay its employees until a buyer is found, probably within a week, world agencies reported. The company stressed that it wants to make sure that they will be appointed by the new owner.
The American fast food chain closed, albeit temporarily, all its establishments in March, after the beginning of the Russian invasion of Ukraine.
“The humanitarian crisis caused by the war in Ukraine, as well as the increasingly unpredictable conditions for doing business, have led McDonald’s to conclude that it can no longer remain the owner of its activities in Russia,” the statement said. the company. The chain’s Russian activities will be sold to a local investor, the fast food giant said.
Leaving Russia is expected to affect the group’s finances as an extraordinary expense of 1.2 to 1.4 billion dollars (1.15 – 1.34 billion euros).
McDonald’s plans to resume operations in Russia under a new brand in mid-June, retaining jobs, most suppliers, the restaurant chain and its menus, a company source told TASS. More than 90 percent of these suppliers are Russian, the source said.
The process of selling the Russian business to McDonald’s includes 850 restaurants with 62,000 employees, according to the Associated Press.
“At the same time, we have a commitment to our global community and we must adhere to our values,” said President and CEO Chris Kempczynski in a statement. “And our commitment to our values means we can no longer let our arches shine there,” he added.
As it tries to sell its restaurants, McDonald’s plans to begin removing its golden arches and other symbols with the company’s name. She notes that she will keep her trademarks in Russia.
The first McDonald’s was opened in Moscow more than 30 years ago, shortly after the fall of the Berlin Wall. It was a strong symbol of the easing of tensions since the Cold War between the United States and the Soviet Union.
