End of an era for McDonald’s in Russia, perhaps the most emblematic reference point of American capitalism, at least in that country.
The American fast food multinational announced on Monday that it has started the process of selling its Russian business, which includes 850 restaurants employing 62,000 people.
According to NBC, this is the most recent departure of a Western company from Russia since invading Ukraine in February.
The fast food giant pointed to the humanitarian crisis caused by the war, saying that maintaining its business operations in Russia “is no longer tolerable, nor is it in line with McDonald’s values.”
The Chicago-based company announced in early March that it was temporarily closing its stores in Russia, but would continue to pay its employees. On Monday, it announced it would seek to find a Russian buyer to hire those employees, whom it would pay until the deal is finalized.
CEO Chris Kempczinski said the “dedication and loyalty to McDonald’s” of employees and hundreds of Russian suppliers made the decision to leave the Russian market difficult.
“However, we have a commitment to our global community and we must remain steadfast in our values, and our commitment to our values ​​means that we can no longer let our arches (the sign of fast food) shine there.”
McDonald’s has stated that it will maintain its brands in Russia.
The first McDonald’s in Russia opened in central Moscow more than three decades ago, shortly after the fall of the Berlin Wall. It was a powerful symbol of the end of the Cold War. It was the first American fast food chain to open in the Soviet Union shortly before its collapse. in 1991.
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