Popular coffee company quits Russian market in wake of invasion of Ukraine

Starbucks is pulling out of the Russian market.

In a memo to employees on Monday, Starbucks said it decided to close its 130 stores and no longer have a brand presence in Russia.

The stores are owned and operated by Alshaya Group, a Kuwait-based franchise operator.

Seattle-based Starbucks had suspended all business activity in Russia on March 8 due to the Russian invasion of Ukraine.