Desk Report
Publish: 16 May 2022, 07:48 pm
McDonald’s is facing a major backlash from Twitterati over whether the fast food company serves jhatka or halal meat to its customers.
McDonald's Corp said on Monday it has started a process to sell all its restaurants in Russia, exiting the country after more than 30 years following its invasion of Ukraine, reports Reuters.
The world's largest fast food chain had in March decided to close its 847 restaurants in Russia, taking a hit of $50 million per month. It now expects to record a non-cash charge of about $1.2 billion to $1.4 billion following the sale.
The decision to sell its Russia assets, including the iconic Pushkin Square location in central Moscow, marks a major retreat by an iconic Western brand.
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