McDonald's Kazakh licensee gives up franchise

Record ID: 1705332

  • Title: McDonald's Kazakh licensee gives up franchise
  • Date: 5th January 2023
  • Summary: ASTANA, KAZAKHSTAN (JANUARY 5, 2023) (Reuters) VARIOUS OF CLOSED MCDONALD’S RESTAURANT IN ASTANA PEOPLE EATING AT FOOD COURT IN SHOPPING MALL VARIOUS OF CLOSED MCDONALD’S CAFE AT FOOD COURT PEOPLE EATING CLOSED MCDONALD’S NEXT TO OPERATIONAL CAFES PEOPLE SKATING AT ICE-RINK IN SHOPPING MALL
  • Embargoed: 19th January 2023 16:03
  • Keywords: ASTANA CLOSURE FRANCHISE KAZAKHSTAN MCDONALD'S
  • Location: ASTANA, KAZAKHSTAN
  • City: ASTANA, KAZAKHSTAN
  • Country: Kazakhstan
  • Topics: Asia / Pacific,Company News Markets,Economic Events
  • Reuters ID: LVA001061505012023RP1
  • Aspect Ratio: 16:9
  • Story Text: The Kazakh licensee of McDonald's Corp will no longer operate under the U.S. corporation's brand "due to supply issues," the company, Food Solutions KZ, said on Thursday (January, 5).
    Food Solutions KZ was forced to temporarily close its restaurants in November after cutting ties with Russian companies and running out of supplies, three sources with knowledge of situation had told Reuters.
    The Kazakh company said in a statement on Thursday it would soon reopen its restaurants to serve the public in the Central Asian nation of 20 million under a new brand.
    The exit highlights the supply issues faced by many Kazakh businesses in the wake of Russia's operation in Ukraine and the Western sanctions against Moscow that followed.
    Neighbouring Russia is Kazakhstan's main trading partner.
    Asked earlier this week to comment on a media report saying it would exit the Kazakh market, McDonald’s declined to comment.
  • Copyright Holder: REUTERS
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