Thursday, June 1, 2023
Thursday, June 1, 2023

    McDonald’s pulls out of Russia after 30 years because of the war in Ukraine saying business there ‘is no longer tenable’

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    McDonald’s Corp has said it has initiated a process to sell its business in Russia, after 30 years of operating its restaurants in the country, following Moscow’s invasion of Ukraine, Your Content has learned.

    In March, the fast-food company temporarily closed all its restaurants in Russia.

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    This included its iconic Pushkin Square location. It continued to pay its staff.

    Now, it has said that it will seek to have a Russian buyer take over the business.

    It did not identify a buyer, but said it would start removing its Golden Arches.

    McDonald’s expects to record a non-cash charge of about $1.2bn to $1.4bn,‘according to The Washington Post.

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