20 May,2022 ( New Delhi) : Govor, a licensee since 2015, has also agreed to retain McDonald’s 62,000 Russian employees for at least two years on equivalent terms. Govor also agreed to pay the salaries of McDonald’s corporate employees until the sale closes.It’s the first time the company has “de-arched,” or exited a major market. It plans to start removing golden arches and other symbols and signs with the company’s name. McDonald’s said it will also will maintain its trademarks in Russia and take steps to enforce them if necessary.The sale announced Thursday is subject to regulatory approval, but is expected to close within a few weeks, McDonald’s saidThe Chicago burger giant said its existing licensee Alexander Govor, who operates 25 restaurants in Siberia, has agreed to buy McDonald’s 850 Russian restaurants and operate them under a new name.Young Muscovites checks out a new taste sensation for the Soviet Union, hamburgers and soft drinks in Moscow on Jan.
McDonald’s, which was among the first Western consumer brands to enter Russia in 1990, signalled a new era of optimism in the wake of the Cold War shortly after the fall of the Berlin Wall McDonald’s has begun the sale of its restaurants in Russia 30 years after the burger chain became a powerful symbol of the easing of Cold War tensions between the United States and Soviet Union.
The sale announced Thursday is subject to regulatory approval, but is expected to close within a few weeks, McDonald’s said