H&M, Starbucks and McDonald’s are closing in China

The largest retailers and catering operators are temporarily closing their business in the Celestial Empire.

Major international companies are gradually withdrawing from the Chinese market, or are limiting their presence in certain cities and regions as coronavirus spread. Today it became known that the American Starbucks, which owns about 4,500 coffee shops in the Celestial Empire, has suspended operation of about 2,000 establishments in the country.

The Bloomberg agency notes that this is not the only example of a sharp decline in the business of international companies in China, including the consumer market. The Japanese company Fast Retailing, which operates a chain of department stores Uniqlo, had to close about 50 stores across the country. 

Chinese Ryohin Keikaku, which owns the international Muji brand, followed international brands, and took similar steps. The company decided to suspend 13 stores. Swedish IKEA also chose to close retail stores; it has already closed its warehouse in Wuhan city earlier.  

The fas food market has also been closed. McDonald’s has announced an indefinite suspension of facilities in the five provinces of China with the highest spread of the virus. Pizza Hut, KFC, and other networks took a similar step. Walt Disney had to shut down its amusement park in Shanghai for a while. And the operator IMAX postponed the release of several films in China due to an unprecedented drop in traffic.