Fast-food giant McDonald’s is to sell its Russian business following the country’s invasion of neighbouring Ukraine.
McDonald’s decision may prompt other Western retailers and consumer businesses to consider their own futures in Russia due to outrage about the ongoing war.
The company said: “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.”
McDonald’s intends to remove its name, branding and menu from its branches in Russia, and sell them to a local buyer. It has 850 branches in Russia, which it shut temporarily in March following the attack on Ukraine.
It has 62,000 employees in Russia and said that they would be paid until a sale was completed.
Russia’s invasion of Ukraine prompted many businesses, ranging from Asos to Ikea, to suspend retail operations there. McDonald’s decision to exit Russia entirely may result in other big names reassessing their prospects in the country and whether they can return at some point in the future.
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