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The original was posted on /r/worldnews by /u/wthoonk on 2023-10-03 14:12:40.
Burger King still hasn't closed its Russian restaurants 18 months after its parent company said it would
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
A spokesperson for RBI told the BBC that it has “no new updates to share” regarding its exit from Russia, where the burger giant has 800 restaurants.
Burger King’s franchise restaurants in Russia are run by a joint venture partnership in which RBI has a 15% stake.
RBI President David Shear said in March 2022 that it had started the process to dispose of its ownership stake, but that this would “take some time” because of the terms of its joint venture agreement.
The RBI spokesperson told the BBC that the company wasn’t providing new investment and supply-chain support to the Russian restaurants and hadn’t made any profits from them since early 2022, echoing Shear’s statement from last March as well as remarks in RBI’s financial filings.
RBI’s three other fast-food brands — Popeyes, Tim Hortons, and Firehouse Subs — don’t have any locations in Russia.
Though Vkusno & tochka is unable to sell iconic items such as the Big Mac, Filet-O-Fish, and McFlurry, it filled its menu with replacements, largely made with the same ingredients and equipment as when it was McDonald’s.
The original article contains 368 words, the summary contains 183 words. Saved 50%. I’m a bot and I’m open source!