Burger King and Papa John's are among the quick-serve restaurants struggling to extricate their brands from Russia.
Canada's Restaurant Brands International , the owner of Burger King, has said it wants to close the 800 restaurants it operates in Russia. But the company's local partner, Russian businessman Alexander Kolobov, has refused to comply, while exiting business agreements set up 10 years ago is legally complicated, RBI said.
RBI owns 15% of Russia's Burger King venture, with the remainder controlled by investors led by Kolobov. RBI has suspended corporate support for the Russian market, including operations, marketing and supply chain backing, and has started the process of exiting its Russian partnerships. The company has also suspended new investments in Russia and is rerouting any Russian profits to the United Nations' refugee agency, according to the company.
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