Russia Store Closures to Cost $50 Million Per Month, Says McDonald’s

McDonald’s Corp said on Wednesday the temporary closure of its 847 stores in Russia will cost the fast food chain about $50 million a month.

The company said on Tuesday it would temporarily close all of its restaurants in Russia including its iconic Pushkin Square location, increasing pressure on other global brands to pause operations in the country following Moscow’s invasion of Ukraine.

Starbucks , which operates 130 cafés in Russia, all owned and operated by franchisees, is suspending all operations there, including shipments of Starbucks products.

McDonald’s CEO Chris Kempczinski said in an email to employees and franchisees that it was “impossible to predict” when those restaurants in Russia could reopen.

“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coca-Cola said in a statement on Tuesday.

Previous articleUkraine Conflict Splits Asia’s Energy Haves And Have-Nots: S&P
Next articleInvestors May Turn To Technology And Financial Stocks Following Wall Street Rally


Please enter your comment!
Please enter your name here