McDonaldB次元官网网址檚 is closing its doors in Russia, ending an era of optimism and increasing the countryB次元官网网址檚 isolation over its .

The Chicago burger giant confirmed Monday that it is selling its 850 restaurants in Russia. McDonaldB次元官网网址檚 said it will seek a buyer who will employ its 62,000 workers in Russia, and will continue to pay those workers until the deal closes.

B次元官网网址淪ome might argue that providing access to food and continuing to employ tens of thousands of ordinary citizens, is surely the right thing to do,B次元官网网址� McDonaldB次元官网网址檚 President and CEO Chris Kempczinski said in a letter to employees. B次元官网网址淏ut it is impossible to ignore the humanitarian crisis caused by the war in Ukraine.B次元官网网址�

McDonaldB次元官网网址檚 said itB次元官网网址檚 the first time the company has ever B次元官网网址渄e-arched,B次元官网网址� or exited a major market. It plans to start removing golden arches and other symbols and signs with the companyB次元官网网址檚 name. McDonaldB次元官网网址檚 said it will also will keep its trademarks in Russia and take steps to enforce them if necessary.

McDonaldB次元官网网址檚 said in early March that it was temporarily closing its stores in Russia but would continue to pay its employees. It was a costly decision. Late last month, the company said it was losing $55 million each month due to the restaurant closures. It also lost $100 million worth of inventory.

McDonaldB次元官网网址檚 has also closed 108 restaurants in Ukraine and continues to pay its employees there.

Western companies have wrestled with , enduring the hit to their bottom lines from pausing or closing operations in the face of sanctions. Others have stayed in Russia at least partially, with .

French carmaker Renault said Monday in Russian car company Avtovaz and a factory in Moscow to the state B次元官网网址� the first major nationalization of a foreign business since the war began.

Maxim Sytch, a professor of management and organizations at the University of MichiganB次元官网网址檚 Ross School of Business, said McDonaldB次元官网网址檚 and others also face pressure from customers, employees and investors over their Russian operations.

B次元官网网址淭he era where companies could avoid taking a stance is over,B次元官网网址� Sytch said. B次元官网网址淧eople want to be associated with companies that do the right thing. ThereB次元官网网址檚 much more to business __ and life __ than maximizing profit margins.B次元官网网址�

McDonaldB次元官网网址檚 first restaurant in Russia , 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.

Now, the companyB次元官网网址檚 exit is proving symbolic of a new era, analysts say. Sytch, who lived in Russia when McDonaldB次元官网网址檚 entered the market and remembers the excitement surrounding the opening, said the closing signifies a reversal to the Soviet era of isolation.

B次元官网网址淚tB次元官网网址檚 really painful to see the many years of gains on the democratic front being wiped out with this atrocious war in Ukraine,B次元官网网址� he said.

Kempczinski left open the possibility that McDonaldB次元官网网址檚 could someday return to the Russian market.

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B次元官网网址淚tB次元官网网址檚 impossible to predict what the future may hold, but I choose to end my message with the same spirit that brought McDonaldB次元官网网址檚 to Russia in the first place: hope,B次元官网网址� he wrote in his employee letter. B次元官网网址淭hus, let us not end by saying, B次元官网网址榞oodbye.B次元官网网址� Instead, let us say as they do in Russian: Until we meet again.B次元官网网址�

McDonaldB次元官网网址檚 owns 84% of its restaurants in Russia; the rest are operated by franchisees. Because it wonB次元官网网址檛 license its brand, the sale price likely wonB次元官网网址檛 be close to the value of the business before the invasion, said Neil Saunders, managing director of GlobalData, a corporate analytics company.

McDonaldB次元官网网址檚 said it expects to record a charge against earnings of between $1.2 billion and $1.4 billion over leaving Russia.

McDonaldB次元官网网址檚 has more than 39,000 locations across more than 100 countries. Most are owned by franchisees B次元官网网址� only about 5% are owned and operated by the company.

McDonaldB次元官网网址檚 said exiting Russia will not change its forecast of adding a net 1,300 restaurants this year, which will contribute about 1.5% to companywide sales growth.

Last month, McDonaldB次元官网网址檚 Corp. reported that it , down from more than $1.5 billion a year earlier. Revenue was nearly $5.7 billion.

Shares of McDonaldB次元官网网址檚 closed Monday down $1 at $244.04.

David Koenig And Dee-ann Durbin, The Associated Press

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