Starbucks definitively leaves Russia and closes 130 stores under its brand

American chain of coffee shops starbucks announced on Monday its withdrawal from the Russian market, where it had been operating for 15 years, joining other companies such as McDonald’s or Exxon Mobil that have taken similar measures in reaction to the Russian invasion of Ukraine.

The chain will close 130 stores across the country, which contribute less than 1% of its annual revenue, according to a company statement.

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The company had already announced the suspension of its commercial activities since March 8.

So, starbucks underlined his condemnation “of the horrific Russian attacks on Ukraine” and announced that, as the situation evolved, it would continue to take measures that were in line with its “values”.

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Starbucks pointed out that it will pay compensation of six months of salary to the around 2,000 workers that the company has in Russia.

fast food chain McDonald’s announced last March the temporary closure of its 850 stores in Russia and the freezing of its operations, which was a considerable blow given the establishment of the chain in the vast Russian territory.

The group McDonald’s announced last week that it has reached an agreement to sell its business in Russia to businessman and franchise partner Alexandr Govor, which will save tens of thousands of jobs.

“Under the terms of the agreement, Mr. Govor acquires the entire restaurant portfolio of the company. string and is going to develop it under a new brand,” McDonald’s said in a statement, noting that the Russian businessman has been a partner since 2015 and that 25 franchises opened by him operate in Siberia.

Source: Elcomercio

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