Starbucks to pull out of Russia over Ukraine invasion and close all 130 cafes following McDonald's
STARBUCKS has become the latest company to quit Russia over the brutal and barbaric war in Ukraine.
The American coffee giant today announced it will close all 130 cafes across the Vladimir Putin's country amid the conflict which has raged for three months.
Starbucks is one of the world's most recognisable brands and has 32,000 stores in 80 countries.
The firm is latest high profile Western business to walk around from the increasingly isolated pariah nation.
Bosses pledged they would support the firm's 2,000 employees and give them pay for six months.
It comes as fast food chain McDonald's also announced it would permanently leave Russia- selling its 850 locations.
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Starbucks first opened in Russia in 2007 and quickly expanded, having 100 stores in the country by 2015.
The company suspended all business operations and shut down all cafes in early much.
But now it confirmed the coffeeshops will never open again.
It is estimated less than one per cent of Starbucks $29billion global revenue comes from Russia.
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In a statement, Starbucks said: "As we mentioned on March 8, we have suspended all business activity in Russia, including shipment of all Starbucks products.
"Starbucks has made the decision to exit and no longer have a brand presence in the market.
"We will continue to support the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opportunities outside of Starbucks."
The Kuwait-based Alshaya Group operates all Starbucks stores in Russia as its sole licensee.
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