Domino's Pizza Russian business fails to sell, files for bankruptcy

DP Eurasia, the owner of the Domino’s Pizza brand in Russia, failed to sell the business and filed for bankruptcy, the company said in a statement.

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“In an increasingly complicated situation, DPRussia’s holding company is forced to take this step, which will lead to the termination of the attempt to sell DPRussia as a going concern and, inevitably, to the reduction of the group’s presence in Russia,” the statement read.

DP Eurasia’s external debt in Russia is estimated at RUB 520 million rubles, or over USD 556,000.

“DPRussia's bankruptcy petition will be filed in accordance with the requirements of the law,” the company added.

Domino’s Pizza announced last March it was suspending the development of the chain in Russia.

A number of foreign companies, including restaurant chains and franchises, have left the Russian market or suspended their operations following Russia’s full-scale invasion of Ukraine last February.

Those that hesitated are now threatened with nationalisation of their Russian assets, as has been the case with Danone and Carlsberg.