McDonald’s is selling all of its restaurants in Russia
Posted May 16, 2022 2:15 pm.
Last Updated May 16, 2022 2:18 pm.
McDonald’s announced Monday it has begun the process of selling its restaurants in Russia, and will no longer do business in the country after operating there for more than 30 years.
This comes after the fast food giant said it would be temporarily closing its Russian restaurants in March.
McDonald’s says “the humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment” led to its decision. It adds “continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values.”
McDonald’s is looking to sell its restaurants to a local buyer, and although it will retain the McDonald’s trademark in Russia, the restaurants will no longer bear any branding or menu items once a deal is made.
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The company adds its priority is to ensure its staff in Russia continue to get paid, and that they have employment opportunities with any potential buyers.
“We have a long history of establishing deep, local roots wherever the Arches shine. We’re exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchisees,” Chris Kempczinski, McDonald’s President and CEO, said. “Their dedication and loyalty to McDonald’s make today’s announcement extremely difficult. However, we have a commitment to our global community and must remain steadfast in our values. And our commitment to our values means that we can no longer keep the Arches shining there.”
McDonald’s continues to pay full salaries for its staff in Ukraine, although its restaurants remain closed there.