McDonald’s (MCD) To Appeal Russian Courts Ruling On Moscow Branch Closures

Reuters reports that McDonald’s Corporation (MCD), who has been ordered by Russian courts to temporary close three of its restaurants in the Russian capital due to sanitary violations, said on Wednesday it would appeal a Moscow courts’ rulings.

“We do not agree with the courts’ decisions and will appeal them according to established procedures,” a spokeswoman for the fast-food giant in Russia was quoted as saying by the publication.

Maksim Titarenko, a lawyer representing McDonald’s in the court, was also quoted as saying by Reuters that the courts’ decisions to close the branches on Moscow’s Manezh square, under the walls of the Kremlin, at Pushkin Square and on Prospect Mira for 90 days were unjustified.

“The court orders the maximum penalty under this article of the Code of Administrative Offenses although there are no grounds for it,” Titarenko said.

Russian businessmen have said the crackdown is linked to tensions between the United States and Russia over the crisis in Ukraine.

In midday trade, shares of McDonald’s were down 0.41% at $93.72, within a 52-week range of $92.22 to $ 103.78.

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