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HomeEconomyIKEA began to liquidate the retail network in Russia

IKEA began to liquidate the retail network in Russia

Date: October 2, 2022 Time: 18:21:20

Vedomosti: IKEA notifies shopping centers of early termination of lease contracts

IKEA has begun notifying owners of shopping centers that house stores and studios of their desire to terminate their leases early. Vedomosti learned about the fact that the furniture store chain began to reduce the retail network in Russia through two sources in the commercial real estate market.

One of the interlocutors of the publication clarified that these letters were received by “almost all” the shopping centers where there are stores of the Swedish brand. We are talking about unilateral termination, which means big fines for IKEA, say both sources.

IKEA stores and studios are represented in 10 shopping centers in Moscow. In one of them, the publication confirmed receipt of the letter. Another reported that he had not received such notification. They suggested that IKEA might not accumulate all the points at once or pick the priority ones itself and leave them for now.

In total, IKEA has 26 stores (both hypermarkets and urban formats) and studios in 12 Russian cities, all of which suspended work on March 4. IKEA has not yet commented on the closure of the retail business, saying only that decisions in this segment “remain on pause”.

On June 15, IKEA announced its complete withdrawal from Russia. The company decided to sell four Russian factories and reduce the scale of business in the country. The staff will be reduced in their own production, and for the four factories in Russia, in the Leningrad, Kirov and Novgorod regions, they will start looking for new owners. Household items, now in warehouses, will be sold to employees and customers.

Source: lenta.ru

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