Ukraine: McDonald's closes 850 restaurants in Russia

In recent days, the United States companies have been under huge pressure to cease operations in response to the invasion of Ukraine.
Ukraine: McDonald's closes 850 restaurants in Russia

Fast food giant, McDonald’s and Starbucks have become the latest retail chain to announce their temporary exit from Russia.

In recent days, the United States companies have been under huge pressure to cease operations in response to the invasion of Ukraine.

The American fast food chain finally confirmed on Tuesday that it is temporarily closing all of its 850 restaurants in Russia.

The company disclosed in a recent financial filing that Russia and Ukraine contributed nine per cent of the company’s revenue last year.

It, however, reassured that it will continue to pay the wages of its 62,000 employees in Russia but did not specify conditions for reopening.

In a statement issued by McDonald’s president and CEO, Chris Kempckinski, closing the stores is the right thing to do because the food chain can’t ignore the ‘needless human suffering in Ukraine’.

In a related development, Coffee giant Starbucks Corp stated that it is suspending all business activity in Russia, including shipment of its products and cafes run by a licensee.

UK Metro reports that the retail sector has closed hundreds of stores, with big name firms like Zara, H&M, Ikea and Nike all pulling out of the country.

In the last one week, McDonald’s has come under criticism for continuing operations for several days after the attack began, along with other recognisable names like Coca-Cola and KFC.

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