McDonald’s quits Russia after more than 30 years
Fast-food giant McDonald’s has announced it will permanently leave Russia after more than 30 years and has already started selling its restaurants there.
They said they made the decision because of the “humanitarian crisis” and “unpredictable operating environment” caused by the Ukraine war.
McDonald’s first opened its doors in Russia in 1990 as the Soviet Union started opening its economy to Western brands. Its permanent exit from Russia carries similar symbolic weight.
Back in March, McDonald’s temporarily closed its 850 restaurants in the country and the company is now selling all its restaurants in Russia to a local buyer. The company has already started stripping the logo from the sites – so no McDonald’s branding is left there.
McDonald’s has said owning a business in Russia was “no longer tenable” or consistent with its values. The company says its priority is ensuring its 62,000 employees are still paid until any sale was completed and that they had “future employment with any potential buyer”.
McDonald’s boss Chirs Kempczinski said the announcement was “extremely difficult” but it wanted to stick to its values.
“Our commitment to our values means that we can no longer keep the Arches shining there.”
The move comes after French carmaker Renault announced it was selling its business in the county. The firm said its 68% stake in carmaker Avtovaz would be sold to a Russian science institute, while its shares in Renault Russia will go to the city of Moscow.
..…………………
FOLLOW US ON SOCIAL MEDIA AND SHARE WTX NEWS WITH YOUR FRIENDS AND FAMILY:
Facebook – Please like our page
Twitter – Twitter updates available in English and Arabic. Please follow us and we would love to hear from you
Instagram – Follow our pages in English and Arabic
