Today news
About the same in other media
McDonald’s to sell its business in Russia after 30 years
Reading now: 153
McDonald’s has initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, after Moscow’s invasion of Ukraine.
In March, McDonald’s closed all its restaurants in Russia including its site in Pushkin Square in the capital, which was the first in the country.
As part of the exit, the company expects to record a non-cash charge of about $1.2bn (£980m) to $1.4bn.
“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.
More to follow …
Read more on theguardian.comAbout this in other media
Alexander Lebedev quits Independent role after Canada sanctions theguardian.com /2 years ago
Crypto exchange announces project restart with airdrop, token sale and launchpad updates cointelegraph.com /2 years ago
Rising fuel costs are a massive problem for business and consumers — Here's why they're so high cnbc.com /2 years ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
