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U.S. fast-food chain Carl's Jr. to close over half of restaurants in Russia

Xinhua, January 13, 2015 Adjust font size:

U.S. fast-food restaurant chain Carl's Jr. announced Monday the closure of 31 restaurants in three major Russian cities including the country's northern metropolis of St. Petersburg.

Twenty-six of the restaurants listed for closure are in St. Petersburg, four in Novosibirsk and one in Krasnodar, given the " difficult economic situation" currently prevailing in Russia, a company spokesperson told to Itar-Tass news agency Monday.

A further 17 restaurants in a range of Russian cities, including Moscow, the national capital, however, will remain operational.

A weak ruble and Western sanctions against Russia over the Ukrainian civil crisis have reduced the disposable incomes and purchasing power of millions of Russian families in recent months, with corresponding effects for the fast food industry in the country. Endite