Burger King fails to shut down in Russia

In response to the ongoing crisis, many companies have made efforts to cut ties with Russia and assist refugees in providing employment opportunities to rebuild their lives. However, Burger King is currently facing difficulty in closing down its franchises as its owner in Russia is refusing to shut down.

Though a small number of firms, including Burger King and Marks & Spencer, have been unable to suspend Russian business, this is due to the complexity of legal arrangements.

The rise of interest rates

Since March 2020, interest rates have risen from 0.5% to 0.75%, meaning that prices of goods and services are costing a lot to afford. As energy bills and food prices are already increasing due to Brexit, prices may grow higher due to the war in Ukraine.

Holland & Barrett struggles to pay back interest

One of the world’s leading health and wellness retailers, Holland & Barrett is struggling to make scheduled interest payments after having made a €415mn loan. Some of these lenders are Russian private equity owners although Russian owners have been hit with asset freezes and travel bans.

By Rukiyya Shah