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McDonald's Golden Arches Demolished in Moscow
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The McDonalds symbol, a logo in the form of two golden arches, was taken down on Monday at a restaurant near Moscow after the burger chain sold its stores and said it would leave Russia.
The multinational first shuttered hundreds of locations in March after Russia started it's military operation in Ukraine, which has cost McDonald's about $55 million per month.
An existing McDonald's licensee, Alexander Govor, who operates 25 restaurants in Siberia, has bought McDonald's 850 Russian restaurants and has agreed to operate them under a new name, the Chicago burger giant said on Thursday.
McDonald's has said it would will keep its trademarks in Russia and take steps to enforce them if necessary.
McDonald's first restaurant in Russia opened in the middle of Moscow more than three decades ago, shortly after the fall of the Berlin Wall.
It was a powerful symbol of the easing of Cold War tensions between the United States and Soviet Union, which would collapse in 1991.
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The multinational first shuttered hundreds of locations in March after Russia started it's military operation in Ukraine, which has cost McDonald's about $55 million per month.
An existing McDonald's licensee, Alexander Govor, who operates 25 restaurants in Siberia, has bought McDonald's 850 Russian restaurants and has agreed to operate them under a new name, the Chicago burger giant said on Thursday.
McDonald's has said it would will keep its trademarks in Russia and take steps to enforce them if necessary.
McDonald's first restaurant in Russia opened in the middle of Moscow more than three decades ago, shortly after the fall of the Berlin Wall.
It was a powerful symbol of the easing of Cold War tensions between the United States and Soviet Union, which would collapse in 1991.
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
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