M&S quits Russia

Bosses indicate they won’t return while Putin reigns

MARKS & Spencer is getting out of Russia after 17 years because of Vladimir Putin’s war on Ukraine.

The retailer is pulling the plug on the 48 stores it has in Russia, which are run by a separate Turkish company.

The bosses halted shipments to Russia in March after Ukraine was invaded. M&S has indicated it would not return while Putin is in power in Russia, adding: “It is not going to be easy to go back in.”

M&S said its businesses in Russia and Ukraine generated just over £100million of retail sales last year.

It added: “Unfortunately, our Ukrainian business has also been partially closed as a result of [the] war... and we are working with our partner to reopen as and when possible.”

Chloe Collins, from analytics firm Globaldata, said: “M&S has finally

announced it is permanently exiting Russia, with its franchise licensee [there] initially preventing it from being able to close its stores there at the beginning of the crisis, despite stopping stock shipments.”

M&S opened its first store in Russia in 2005. A wave of Western retailers

and companies expanded into the country at around the same time. Many have now left due to the war.

Mcdonald’s has recently confirmed that it is pulling out of Russia after three decades there.

It is selling all its Russian restaurants to one of its franchisees in the country.

The restaurants will be operated under a new name. US coffee chain

Starbucks confirmed this week it is completely withdrawing from Russia.

The company had, like many others, already suspended operations in the nation. It has 130 locations there.

Yum! Brands, which owns Pizza Hut and KFC, is transferring its restaurants to a local operator.

graham.hiscott@mirror.co.uk