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Tags: mcdonalds | russia | exit

McDonald's to Exit Russia After 30 Years

people walk past a McDonald's resaurant
People walk past the McDonald's flagship restaurant at Pushkinskaya Square in central Moscow on March 13, 2022 — McDonald's last day in Russia. (AFP via Getty Images)
 

Monday, 16 May 2022 06:28 AM EDT

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.

In March, McDonald's closed all its restaurants in Russia including its iconic Pushkin Square location.

As part of the exit, the company expects to record a non-cash charge of about $1.2 billion to $1.4 billion.

"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.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
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. In March, McDonald's closed all its restaurants in Russia including its iconic Pushkin...
mcdonalds, russia, exit
100
2022-28-16
Monday, 16 May 2022 06:28 AM
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