JAKARTA - Last March, McDonald's closed 850 restaurants across Russia in protest at the country's invasion of Ukraine. Now McDonald's is taking a more decisive step, ready to leave Russia completely.
The fast food giant from the United States is already square off from the Russian market. They are even ready to sell their business in a country that is increasingly isolated due to sanctions from the world, the company wrote Monday, May 16, quoted by Channel News Asia.
McDonald's in March closed all of its restaurants in the country. The number is approximately 850 restaurants with a total of 62,000 employees.
"After more than 30 years of operation in the country, McDonald's Corporation announced it will exit the Russian market and has started the process of selling its Russian business," the company wrote.
"The humanitarian crisis caused by the war in Ukraine, and the unpredictable operating environment, have led McDonald's to conclude that its continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald's values," they continued.
McDonald's isn't just a threat. They are looking for investors to sell their entire portfolio of McDonald's restaurants in Russia to local buyers.
However, after the buying and selling process is complete, restaurants are prohibited from using the McDonald's name, logo, branding or menu.
Chief executive Chris Kempczinski said, "We are extremely proud of the 62,000 employees working in our restaurant, along with the hundreds of Russian suppliers who support our business, and our local franchisees. Their dedication and loyalty to McDonald's makes this announcement extremely difficult."
"However, we are committed to our global community and must remain true to our values," concluded McDonald's.
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