A statement by the company “McDonald’s” stated – according to the Russian “Sputnik” news agency – that “the company announced its final exit from the Russian market, following more than 30 years of operation in the country,” adding that the company has started the process of selling its Russian projects to a local Russian company. “.
After the sale, McDonald’s will not be able to use its name, logo, brands and menu, but will keep its brands in Russia.
The company expects to incur losses ranging from 1.2 to 1.4 billion dollars due to the write-down of net investments in the Russian market and significant losses from foreign currency conversion.
