McDonald’s sells chain stores in Russia

McDonald’s announced on May 16, 2022 about the sale of their business in Russia. As soon as Russia launched a military operation in Ukraine, McDonald’s temporarily closed its stores in Russia in March 2022.

After the sale of the chain of stores in Russia is completed, restaurants in Russia will no longer be able to use the name, logo and menu of McDonald’s.

The employee will still be paid until the transaction is complete and the employee is guaranteed a job with the new owner.

CEO Chris Kempczinski shared that he feels proud of more than 60,000 employees in Russia recently.

The decision to sell the entire business chain in Russia, ending 3 decades of McDonald’s and Russia.

This force majeure deal cost McDonald’s about $1.2-1.4 billion.

In its latest quarterly financial report, McDonald’s said that closing restaurants in Russia cost them $127 million.

The $27 million came from employee costs, space rent, and supplier payments. $100 million is from the fact that food and many other goods cannot be used.

McDonald’s currently has 847 restaurants in Russia.

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