CHICAGO May 16 2022 After more than 30 years of operations in the country McDonalds Corporation announced it will exit the Russian market and has initiated a process to sell its Russian business. McDonalds has found a local buyer for its Russian business after the war in Ukraine pushed it to quit the country.
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The first McDonalds in Russia opened in Moscow in 1990 a massive 23000 square foot store in Pushkin Square and Russians lined up for hours to get a Big Mac and fries all of which were.
. After the company temporarily closed its Russian stores in March a local alternative Uncle Vanya applied to trademark a logo that looked strikingly similar to McDonalds emblematic Golden. A Russian company called Uncle Vanya is already eyeing a takeover over McDonalds business in the country revealing a logo that appears to be nearly identical to the Chicago-based fast. McDonalds said Monday that it has started the process of selling its Russian business which includes 850 restaurants that employ 62000 people making it the latest major Western corporation to.
McDonalds intends to initiate the process of de-Arching those restaurants which entails no longer using the McDonalds name logo branding and menu though the company will continue. McDonalds said Monday that it will sell its business in Russia after more than 30 years in the country. A Russian businessman has agreed to hire and pay all 62000 of McDonalds employees in the country following the fast-food chains exit Matthew Loh 2022-05-20T092625Z.
McDonalds will keep its trademarks in Russia the company said. McDonalds restaurant is seen in the center of Dmitrov a Russian town 75 km 47 miles north from Moscow Russia on Dec. Govor agreed to keep current employees on payroll for at least two years.
In a March 12 trademark filing Uncle Vanyas yellow and red logo looks almost identical to the iconic Golden Arches of McDonalds but. McDonalds is selling its Russian restaurants to Alexander Govor for an undisclosed sum. McDonalds says it will sell Russian business McDonalds President and CEO Chris Kempczinski called the decision extremely difficult NCD By.
The company intends to de-arch those restaurants which entails no longer using the McDonalds name logo branding and menu. McDonalds in March announced that it was closing all of its stores in Russia over President Vladimir Putins invasion of. The exodus of Western businesses from Russia deepened on Monday May 16 as French automaker Renaults local assets were effectively nationalised and fast food giant McDonalds said it.
The company cited the war in Ukraine and the unpredictable operating environment in. The chain will begin the process of de-Arching its Russian restaurants which means removing the McDonalds name logo branding and menu. Alexander Govor who currently operates 25 McDonalds restaurants in Siberia will take on the firms restaurants and staff operating them under a new brand the fast food giant said.
This follows McDonalds announcement on March 8 2022 that it had temporarily closed restaurants in Russia and paused operations in the market. McDonalds will retain its trademarks in Russia. As part of McDonalds decision to exit the company is pursuing the sale of its entire portfolio of McDonalds restaurants in Russia to a local buyer.
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