The owner of the fast food chain KFC, the American company Yum! issued a press release announcing the withdrawal of the company from Russia and the reduction of all investment projects.
The company also owns a chain of Pizza Hut restaurants, which were sold to another owner to operate under an unrelated Pizza Hut brand. The KFC network expects exactly the same transition under the wing of the new owner.
It should be noted that around 1,000 KFC fast food outlets and 50 Pizza Hut pizzerias operated under these two brands in Russia.
Another decision of the company was to allocate the profits from the work in Russia for humanitarian purposes. We are talking about the transfer of one million dollars to the Red Cross to support the victims in Ukraine.
This is not the first departure of a major player in the Russian food industry. Look to the decision made by Coca-Cola
However, lovers of spicy chicken can take their time to grieve and run to the nearest restaurant for a bucket of hot wings. According to RIA Novosti, KFC’s departure will not affect restaurants operated by franchisees, which are purely Russian legal entities. Only those restaurants that belonged to the parent company, the founder of the fast food chains, will change owners.
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Source: IXBT
