Following Russian invasion of Ukraine on February 24, many international companies are reconsidering their business relationships with the country.
Under pressure from investors and the international community, many have decided to cut ties and pause business activities in the Russian market:
- McDonald’s has temporarily closed its 850 units in Russia
- Similarly, Starbucks has decided to close all its locations (owned by Kuwaiti Alshaya Group)
- Pepsico is no more selling its products in Russia except for baby food
- Yum Brands has also decided to close it 70+ KFC equity stores and all PH franchised ones
- Little Caesars franchisee has paused all business activities in the country.
- Papa John’s has stopped corporate activities and all support to the Russian market (entirely owned by franchisees)
- Coca Cola has suspended all its business in the country
Read more on:
https://www.nytimes.com/article/russia-invasion-companies.html
https://www.nbcnews.com/business/business-news/companies-stopped-business-russia-rcna19006
