McDonald's Corp said on Monday it had 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.
McDonald's in March closed all of its 850 restaurants in the country - where it says it employs 62,000 people - including its iconic Pushkin Square location. It continued to pay its staff in the country.
But on Monday it went a step further, saying in a statement: 'After more than 30 years of operations in the country, McDonald's Corporation announced it will exit the Russian market and has initiated a process to sell its Russian business.
that's how you say 'McDonalds' in Russkie talk.
Chief executive Chris Kempczinski said the 'dedication and loyalty to McDonald's' of employees and hundreds of Russian suppliers made it a difficult decision to leave. 'However, we have a commitment to our global community and must remain steadfast in our values,' Mr Kempczinski said in a statement, 'and our commitment to our values means that we can no longer keep the arches shining there.' As it tries to sell its restaurants, McDonald's said it plans to start removing golden arches and other symbols and signs with the company's name.
It said it will keep its trademarks in Russia, but they didn't say why...
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