NEW YORK—For at least a decade, Burger King’s formula for European expansion has relied on a joint venture partnership, including a master franchisee, to open and operate new locations.
But now the fast-food chain has a whopper of a problem in Russia. It hasn’t been able to exit its partnership or close its roughly 800 franchised locations following Russia’s February invasion of Ukraine.
Burger King halted corporate support for its Russia locations in March. Parent company Restaurant Brands International Inc. (RBI), which was formed in 2014 when Burger King merged with Tim Hortons, said on March 17 that it was trying to sell its stake in the joint venture….
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