McDonald’s seeks to sell Russian business that is ‘no longer tenable’
After more than three decades, McDonald’s is pulling out of Russia and seeking to find a “local buyer” for its business there, which includes 850 restaurants in the country.
In early March, McDonald’s temporarily closed its restaurants in Russia in response to the country’s invasion of Ukraine.
“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values,” the company said Monday in a statement.
Whoever buys its Russian restaurants will no longer be allowed to use the McDonald’s “golden arches” logo or brand, the company said, adding that it wants to protect its 62,000 employees in Russia.
Read the full story here.
