IKEA scales down business in Russia – media ...News

The furniture giant will sell its factories in the country, Izvestia reports Iconic Swedish furniture brand IKEA is winding down business activities in Russia, newspaper Izvestia reported on Wednesday, citing its sources. According to the report, the company informed its employees during a general meeting and will officially announce the decision soon. IKEA has not addressed plans for its outlets in the country but its online store will reportedly continue to operate. The company’s press service confirmed the reports, telling business daily RBC that IKEA would reduce the scale of its business in Russia, laying off

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