McDonald’s to exit Russia after 30 years

As part of the exit, it expects to record a non-cash charge of about $1.2 bn to $1.4 bn.
Representative Image
Representative ImageBloomberg

NEW YORK: McDonald’s Corp 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. In March, McDonald’s closed all its restaurants in Russia including its iconic Pushkin Square location.

As part of the exit, it expects to record a non-cash charge of about $1.2 bn to $1.4 bn.“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable,” McDonald’s said.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Related Stories

No stories found.
DT next
www.dtnext.in