McDonald’s announces final withdrawal from Russia and sale of business
McDonald’s
After 32 years in Russia, McDonald’s sells its business and announces that it has completely withdrawn from the country’s market. This was reported by The New York Times citing McDonald’s CEO Chris Kempchinski.
said in a message to the company’s dealers.
The company also reported that the loss of leaving the Russian market could be between $1.2 and $1.4 billion.
Kempchinski noted that the work in Russia was a milestone for the company to be proud of, and that the opening of the first McDonald’s in Moscow in January 1990 marked “the beginning of a new era for many on both sides of the Iron Curtain.”
The company had previously closed fast food restaurants in Russia, but some franchise outlets continued to serve customers. It is now planned to sell them to a local buyer (850 network organizations operate in Russia). The use of names, logos and brands will be prohibited in these restaurants. At the same time, the company plans to keep its trademarks in Russia.
TASS reported that McDonald’s will continue to operate under a new brand in Russia in mid-June and will maintain the same team, menu and collaboration with Russian suppliers.
– said the agency’s source.
Source: Spletnik
I am Anne Johnson and I work as an author at the Fashion Vibes. My main area of expertise is beauty related news, but I also have experience in covering other types of stories like entertainment, lifestyle, and health topics. With my years of experience in writing for various publications, I have built strong relationships with many industry insiders. My passion for journalism has enabled me to stay on top of the latest trends and changes in the world of beauty.
