Russia’s McDonald’s reopens under new name Vkusno i tochka

An employee of the new restaurant Vkusno i tochka, following McDonald's exit from the Russian market in Moscow, on June 12, 2022. PHOTO: REUTERS
Mr Oleg Paroyev, director-general of the new restaurant chain Vkusno i tochka, at a news conference in Moscow, Russia, on June 12, 2022. PHOTO: REUTERS

MOSCOW (AFP) - Former McDonald’s restaurants in Russia have been renamed Vkusno i tochka, or "Delicious. Full Stop”, the new owner said ahead of their grand reopening later on Sunday (June 12).

“The new name is Vkusno i tochka,” Mr Oleg Paroyev, director-general of the new group, told a press conference in Moscow. 

Replete with a new logo to replace the Golden Arches, the restaurant on Moscow’s Pushkin Square - where the very first McDonald’s opened its doors to long queues and great fanfare in January 1990 - was due to open its doors again at noon (0900 GMT). 

The United States McDonald’s fast-food giant announced on May 16 that it would exit Russia in the wake of Moscow’s Ukraine offensive. 

Three days later, Russian businessman Alexander Govor, who had been a licensee of the chain, bought the 850-restaurant operation. 

“I am very proud of the honour that developing this enterprise has given me,” said Mr Govor on Sunday. 

“I am ambitious and I don’t plan to only open the 850 restaurants but to develop new ones.” 

Under the sale conditions, Mr Govor agreed to retain employees for at least two years and fund existing liabilities to suppliers, landlords and utilities, McDonald’s said. 

The price of the transaction was not disclosed but in announcing its exit, McDonald’s said it planned to take a one-time charge between US$1.2 billion and US$1.4 billion (S$1.67 billion and S$1.94 billion) to write off the investment. 

McDonald’s had employed 62,000 workers in Russia. 

Mr Govor, a licensee since 2015, has operated 25 restaurants in Siberia. 

He is co-founder of Neftekhimservice, a refining company, and a board member of a firm that owns the Park Inn hotel and private clinics in Siberia.

Join ST's Telegram channel and get the latest breaking news delivered to you.