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IKEA to leave Russia completely after all. Company calls it "business scaling"

IKEA will get rid of production assets in Russia. The company will sell all four factories. IKEA informed the Russian media about this.

The company has already started looking for new owners for enterprises in the Leningrad, Kirov, and Novgorod regions.

Quote"Over the past few months, the situation with business processes and supply chains around the world has deteriorated greatly. Given this, we do not see the possibility of resuming sales in the near future. As a result, the Inter IKEA group of companies and the Inga group of companies decided to reduce the scale of their business in Russia. This is a difficult decision, but we believe that it is necessary. IKEA’s retail in Russia remains on pause. This decision will lead to optimization, which, among other things, will affect a lot of employees," the company informed.

However, Mega shopping centers owned by the company will continue to work. IKEA will sell the goods remaining in warehouses. The company will publish an announcement about the start of sales later on its website.

On June 15, 2022, Russian employees were called in for a general meeting, where, in particular, they were informed about the sale of factories and the company's closure and were offered to write letters of resignation by agreement of the parties.

Context. IKEA stores have been closed in Russia since March 2022. The official statement said that the war had already affected people. It also causes severe disruption to supply chains and terms of trade. For all these reasons, the groups of companies have decided to temporarily stop their activities in Russia.

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