Fast food restaurant chains are looking for a buyer on the business.
The world’s largest fast food restaurant chain McDonald’s is leaving Russia. Earlier, the owners suspended business in Russia due to the Ukrainian special operation. A month and a half after that, the McDonald’s office decided to sell the entire Russian business.
McDonald’s said in a statement that the issue of selling the company in Russia was difficult to solve. But the humanitarian crisis caused by the Russian special operation in Ukraine and the “unpredictability of the operating environment” led to the fact that the company considered that owning a business in Russia was “impractical.”
McDonald’s also said in a statement that business in Russia now does not correspond to their values. The management also informed about the sale of the business, and only to a Russian buyer.
McDonald’s informs that the restaurants of the new buyer will not be able to use their menu and brand, but the company plans to keep its trademarks in Russia.
McDonald’s considered that due to the withdrawal from the Russian market, they will have to write off $ 1.2-1.4 billion.
A TASS source in the company said that in mid–June, McDonald’s will reopen in Russia under a new brand. The chain of restaurants, menus, and workplaces will be preserved.
Recall that McDonald’s in Russia provides jobs for almost 62 thousand people. Another 100 thousand people work at suppliers’ enterprises.
Insiders specify that more than 90% of McDonald’s suppliers are Russian. They plan to maintain cooperation with them.
“In fact, only the name will go away,” informed sources say.
Recall that McDonald’s has been working in Russia for more than 30 years. The first cafe opened on January 31, 1990 in Moscow.
McDonald’s accounted for about 25% of tax revenue in the catering industry.
As Topnews wrote earlier, in March of this year, media sources began to report on Google’s removal of its employees from Russia. This was done on the eve of blocking Youtube in the Russian Federation.