McDonald’s said it’s pulling out of all of its burger joints in Russia — and they will be taken over by a local brand the …
McDonald’s said it’s pulling out of all of its burger joints in Russia — and they will be taken over by a local brand the country is cooking up. The American fast-food giant announced Monday that it is selling its three decade-old business after temporarily closing hundreds of locations in March when Vladimir Putin launched war on Ukraine.
“For the first time in our history, we are “de-Arching” a major market and selling our portfolio of McDonald’s restaurants,” McDonald’s chief executive, Chris Kempczinski said in a letter to employees and franchisees. “They will no longer carry the McDonald’s name or serve our menu. The Golden Arches will shine no more in Russia.”
Russia’s state-run TASS news agency reported Monday that the McDonald’s restaurants in the country would reopen under a different name next month, according to a Wall Street Journal report.
