Check out what’s clicked on FoxBusiness.com.
The Russian fast food chain formerly known as McDonald’s has unveiled a new logo as it prepares to reopen under new ownership.
The branding includes a circle and two lines on a green background, which are said to represent a hamburger and two french fries.
The re-launch is scheduled for Sunday, which is also Russia Day, in McDonald’s location in Pushkin Square, Moscow It reopened in 1990. The reopening will initially cover 15 locations there and in the surrounding area.
The famous “Golden Arches” have been removed from sites in the Russian capital and Saint Petersburg.
A hamburger and two fries appear on the logo of a new restaurant chain, after McDonald’s decided to sell its restaurants in Russia to a local licensee who will rebrand them under a new name, in this posted photo. (Posted via Reuters/Reuters)
McDonald’s to sell Russian business
The The name of the new restaurant It has yet to be revealed, and RBC Daily reports that the McDonald’s app’s name change to “My Burger” was only temporary.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| MCD | McDonald’s Corporation. | 237.38 | -4.78 | -1.97% |
Sistema PBO, which runs the chain, told state outlets TASS on Thursday that several names were under consideration.
After more than three decades, the western fast food giant said in May that it would sell its Russia business.
Workers use a crane to dismantle McDonald’s golden arches while removing logo placards from a McDonald’s restaurant in the city of Kingessep in Leningrad region, Russia, June 8, 2022. (Reuters / Anton Vaganov / Reuters)
The announcement came after McDonald’s halted its market operations and briefly closed restaurants amid the war in Ukraine.
“The humanitarian crisis caused by the war in Ukraine, and the accelerated and unpredictable business environment, have led McDonald’s to conclude that Business ownership in Russia “It is no longer defensible, and does not agree with McDonald’s values,” McDonald’s said at the time, in a statement.
Get your FOX business on the go by clicking here
The chain sold its restaurants there to a local buyer, Alexandre Gauveur, who plans to expand the new brand within months.
“Under this agreement, Mr. Gofour will acquire the entire McDonald’s restaurant portfolio and operate restaurants under the new brand. Since 2015, Mr. Gofour has worked as a licensee for McDonald’s and has operated 25 restaurants in Siberia,” the company said in a statement.
The sale and purchase agreement provides for the retention of more than 62,000 employees for at least two years on equivalent terms.
Ed Rainsy discusses his initiative to strike back at the corporations that have become too political on Wall Street Maria Bartiromo.
McDonald’s, which has about 850 restaurants in Russia, said it would keep its brands there.
Oleg Baruev, McDonald’s RussiaHe said other franchisees would have the option to operate under the new brand, but that the traditional McDonald’s brand would leave the country.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
TASS said McDonald’s will remain open at airports and train stations in Moscow and St. Petersburg until 2023, citing a source close to franchisees Rostiner.
Fox Business’s Daniel Wallace, Lucas Manfredi, and Reuters contributed to this report.