Restaurant Brands International (RBI) announced Thursday that Burger King’s withdrawal from Russia is planned but will take some time. “Do we want to immediately suspend all Burger King activities in Russia? Yes, CEO David Sher wrote in an open letter.
Can we stop the strike today? No.” The reason why nearly 800 branches remained open is the franchise partners controlled by businessman Alexander Kolobov. RBI owns only 15 percent of the joint venture in Russia.
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You need Russia’s approval
However, the group has ceased to support the branch network and no longer invests in Russia itself. However, it is difficult to do business due to contracts and may require approval from the Russian authorities. This cannot be expected quickly. Exit is a complex legal process that will likely continue, according to RBI chief Shear.
McDonald’s, Burger King’s competitor, announced last week that it would close about 850 fast food restaurants in Russia. (SDA)
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