McDonald’s has decided to leave Russia after over 30 years in business.
The move comes as the fast-food chain restaurant temporarily sold over 850 of its stores in March. Now, The company has decided to remove the golden arches for good.
The company stated that 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, nor is it consistent with McDonald’s values.”
The first McDonald’s was built in Russia in 1990.
McDonald’s president and chief executive, Chris Kempczinski, said the decision was “tough,” but “our commitment to our values means that we can no longer keep the Arches shining there.”
According to BBC, the fast-food chain will sell all of its locations to a local buyer, and they will begin “de-arching” the restaurants, which entails removing the company’s name, branding, and menu.
McDonald’s said it would continue to pay its 62,000 employees in Russia until the deals are completed and that any of the potential buyers will hire them.
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