Swedish furniture giant IKEA has decided to liquidate its Russian unit, limited liability company IKEA Dom, further scaling back its operations after more than a decade-long presence in the country, a corporate record showed. | Reuters
A view shows the logo of IKEA on a closed store in Kotelniki outside Moscow, Russia July 5, 2022. REUTERS/Evgenia Novozhenina
MOSCOW – Swedish furniture giant IKEA has decided to liquidate its Russian unit, limited liability company IKEA Dom, further scaling back its operations after more than a decade-long presence in the country, a corporate record showed on Tuesday. Scores of consumer brands suspended operations in Russia after Moscow sent tens of thousands of troops into Ukraine on Feb. 24, with H&M, IKEA and Nike among the companies to have announced plans for a permanent exit.IKEA, the world’s biggest furniture brand, shut down its stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia.
Ingka group, IKEA stores owner and one of the world’s leading shopping center owners, however, has kept its “Mega” shopping malls in Russia open.
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