McDonald’s is all set to sell its business in Russia after its restaurants operated for over 30 years in the country. The American multinational fast food corporation has taken this step due to the ongoing Russia-Ukraine war.
According to the fast-food company, continuing to operate outlets in the country was no longer feasible as it no longer held the values of McDonald’s due to the humanitarian crisis.
Before the company is sold to a local buyer, McDonald’s wants to de-arch it, meaning remove the company’s name, emblem, branding, and menu. This is the first time it has done so in a major market. The company, however, has decided to keep the trademark in Russia.
It has also stated that it will continue keeping 62,000 local employees employed which was a top priority until a deal is reached and they are able to find work with a new owner.
Chris Kempczinski, the chief executive of McDonald’s stated that making the announcement of the sale was very painful due to the dedication and loyalty of employees and local suppliers. But since they have a commitment to the entire world, they must stay true to their values.
He further added that they can longer keep the trademark M arches shining because of their commitment to their values.
This anticipated sale comes after McDonald’s recently announced in March that it was temporarily closing 850 locations in Russia which even including the country’s first location in Pushkin Square in Moscow.
Similar to this, companies like Starbucks, Coca-Cola, and Pepsi and consumer brands like Netflix, Levi’s, Burberry, Ikea, and Unilever have also paused their operations in Russia.