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IKEA, the world's biggest furniture brand, is closing its stores in Russia and pausing all sourcing in the country and ally Belarus, joining the wave of Western firms curbing business with Russia ...
IKEA closed their 17 stores in Russia and halted sourcing materials from Russia and Belarus, but its 14 malls in Russia, branded "Mega", remain open. IKEA's decision to close their stores led to Russian consumers panic buying furniture and home appliances on the final day of the store's operations in the country. 3 March 2022 (Furniture stores)
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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. IKEA to liquidate Russian ...
In July 2020, the relationship between Belarus and Russia was described as "strained" after 33 Russian military contractors were arrested in Minsk. [20] Lukashenko afterwards accused Russia of trying to cover up an attempt to send 200 fighters from a private Russian military firm known as the Wagner Group into Belarus on a mission to ...
The IKEA stores in Russia were in connection with MEGA malls developed by IKEA. 5-6 new openings were originally planned by 2020. On 3 March 2022, INGKA holdings (parent company of IKEA Russia) announced that IKEA would suspend operations in Russia and pause sourcing in the country as a result of the Russian invasion of Ukraine. [138]
French bank Societe Generale said it was working to cut its risks in Russia, fearing a tit-for-tat response by Moscow to Western sanctions, as more companies from vodka maker Diageo to IKEA ...
Because of the ongoing war and unimproved situation in Russia, IKEA said on 15 June that it would sell factories, close offices and reduce its workforce. [40] Later it became known that IKEA does not plan to sell its business, but expected to return to Russia within two years. [41] By October 2022, IKEA laid off about 10,000 Russian employees. [42]