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IKEA liquidates its Russian division. Over 15,000 of



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Swedish furniture giant IKEA has decided to liquidate its Russian unit, limited liability company IKEA Dom, further reducing its operations after more than a decade of presence in the country, a corporate document showed on Tuesday, Reuters reported.

Dozens of consumer brands suspended operations in Russia after Moscow sent tens of thousands of troops into Ukraine on February 24, with H&M, IKEA and Nike among the companies announcing plans for a permanent exit.

IKEA, the world’s biggest furniture brand, closed its stores in March and said it would sell factories, close offices and cut its 15,000-strong workforce in Russia.

The Ingka group, owner of IKEA stores and one of the most important owners of shopping centers in the world, has, however, kept its “Mega” malls open in Russia.

On Monday, IKEA closed the last of its online sales, which had reopened in July.

According to the data registered on Tuesday in the Spark database of the Interfax news agency, of Russian companies, Ingka Holding Europe BV has decided to liquidate IKEA Dom, of which it is the sole owner.

IKEA Dom was established in July 2006.

In June, the Ingka Group said it was open to returning to Russia one day, but that there were currently no conditions.

Ingka Group did not immediately respond to a Reuters request for comment on Tuesday.