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Starbucks to leave Russian market

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COFFEE BREAK: Starbucks pulls out of Russian market over the country's invasion of Ukraine

"The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald's to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald's values," McDonald's previously said in a statement to FOX Business.

The company said it is pursuing the sale of its entire portfolio of McDonald's restaurants in Russia to a "local buyer" and intends to initiate the process of "de-Arching" those restaurants, which entails no longer using the McDonald's name, logo, branding, and menu, though McDonald’s will continue to retain its trademarks in Russia.

 

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Starbucks to end business in RussiaStarbucks Corp. is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the market. Wonder how many of these franchises are in breach of contract. Good
Source: MarketWatch - 🏆 3. / 97 Read more »