McDonald’s to Exit From Russia After Three Decades
A McDonald’s in Moscow.
Photo:
The Wall Street Journal
McDonald’s
MCD 0.35%
Corp. said it would quit Russia and sell its business there, ending more than three decades in the country over its invasion of Ukraine.
The company said it expected to record a charge of between $1.2 billion and $1.4 billion in connection with the move.
McDonald’s
MCD 0.35%
said it was pursuing the sale of its entire portfolio of restaurants in Russia to a local buyer. The restaurants there have been closed since early March. The company said it was continuing to pay the salaries of its employees in the country, of which there are about 60,000.
Moscow’s first McDonald’s before its opening in 1990.
Photo:
Victor Yurchenko/Associated Press
Write to Michael Wright at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
A McDonald’s in Moscow.
Photo:
The Wall Street Journal
McDonald’s
MCD 0.35%
Corp. said it would quit Russia and sell its business there, ending more than three decades in the country over its invasion of Ukraine.
The company said it expected to record a charge of between $1.2 billion and $1.4 billion in connection with the move.
McDonald’s
MCD 0.35%
said it was pursuing the sale of its entire portfolio of restaurants in Russia to a local buyer. The restaurants there have been closed since early March. The company said it was continuing to pay the salaries of its employees in the country, of which there are about 60,000.
Moscow’s first McDonald’s before its opening in 1990.
Photo:
Victor Yurchenko/Associated Press
Write to Michael Wright at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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