De-Arching: McDonald’s to Sell Russia Business, Exit Country

De-Arching: McDonald’s to Sell Russia Business, Exit Country

McDonald’s said Tuesday it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people.

The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”

The Chicago-based company had temporarily closed its stores in Russia but was still paying employees. On Monday, it said it would seek to have a Russian buyer hire its employees and pay them until the sale closes.

It didn’t identify a prospective buyer. McDonald’s said it plans to start removing golden arches and other symbols and signs with its name.

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