Categories: Latest News

Who is pulling out of Russia?

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

fb-connect

Share
Published by
fb-connect
4 years ago

Recent Posts

Acca Group reports strong growth with EBITDA up 23.4% and turnover at £18.3m

Multi-brand franchise operator Acca Group has reported a 10.9% rise in turnover to a record…

3 days ago

China’s second largest coffee brand opens two new locations in London

Cotti Coffee, China’s second-largest coffee chain, has continued its UK rollout with the opening of…

3 days ago

Italian brand Gruppomimo targets UK expansion

Gruppomimo, an Italian-inspired dining brand originally launched in France, is looking for franchise partners as…

3 days ago

Queensway to double Starbucks portfolio

Queensway, an established franchise partner of Starbucks, is preparing for a major expansion across the…

2 weeks ago

Pret A Manger opens new motorway stops with Roadchef

Pret A Manger is expanding its presence on UK motorways with the launch of three…

3 weeks ago

Chaiiwala opens first Nottingham shopping centre site in partnership with Splendid Hospitality Group

Indian street food brand Chaiiwala has expanded its footprint by opening a third location in…

3 weeks ago