McDonald’s To Leave Russia For Good After 30 Years

- Advertisement -

McDonald’s has said it will permanently leave Russia after more than 30 years and has started to sell its restaurants.

The move comes after it temporarily closed its 850 outlets in March.

The fast food giant said it made the decision because of the “humanitarian crisis” and “unpredictable operating environment” caused by the Ukraine war.

The opening of McDonald’s first restaurant in Moscow in 1990 came to symbolise a thaw in Cold War tensions.

- Advertisement -

A year later, the Soviet Union collapsed and Russia opened up its economy to companies from the West. More than three decades later, however, it is one of a growing number of corporations pulling out.

“This is a complicated issue that’s without precedent and with profound consequences,” said McDonald’s chief executive Chris Kempczinski in a message to staff and suppliers.

“Some might argue that providing access to food and continuing to employ tens of thousands of ordinary citizens, is surely the right thing to do,” he added.

“But it is impossible to ignore the humanitarian crisis caused by the war in Ukraine. And it is impossible to imagine the Golden Arches representing the same hope and promise that led us to enter the Russian market 32 years ago.”

McDonald’s said it would sell all its sites to a local buyer and would begin the process of “de-arching” the restaurants which involves removing its name, branding and menu. It will retain its trademarks in Russia.

The chain said its priorities included seeking to ensure its 62,000 employees in Russia continued to be paid until any sale was completed and that they had “future employment with any potential buyer”.

McDonald’s said it would write off a charge of up to $1.4bn (£1.1bn) to cover the exit from its investment.

Source: BBC News. Headline photo: The opening of McDonald’s in Moscow in 1990 saw queues of Russians keen to try the American fast food chain

- Advertisement -
Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

2 COMMENTS

  1. Its strange how I never took a liking to that stuff. It could be that my wife I consider as a Culinary Artist, damn good at and loves to cook good food. I once asked the Chinees couple how come your teen aged kids are so much taller and bigger than you – they replied with a broad smile – ‘The McDonalds’ – so after a taste of this side of Americanism, how will these families explain that to their children? they don’t dare blame it on Putin; where’s the freedom. That’s when I prefer Green Figs & Salt Fish with Souse & a little prayer.

    • ………and I just love her cooking too (that teriyaki ginger sauce she puts on the chicken is to die for) Oh you never got it ?? Oh well ! Honey Boo where art thou my vanilla ice-crème Highgrade awaits you baby; Got that new electric stove you recommended waiting on the docks, all for you my sugar dumpling.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

TRENDING

Subscribe to our St. Lucia Times Newsletter

Get our headlines emailed to you every day.

spot_img
Four Members Of One Family Found Dead At Their Home In BarbadosRead
+ +
Send this to a friend