IKEA has begun to wind down its retail network in Russia

IKEA has begun to wind down its retail network in Russia

IKEA has started winding down its retail network in Russia

Photo: Global Look Press

IKEA began to notify the management of the shopping centers, in which its stores and studios are located, of the intention to terminate the lease agreements, the  "Vedomosti" newspaper reports, citing sources in the commercial real estate market.

According to the interlocutors of the publication, the company plans to prematurely terminate the contract unilaterally, which will result in large fines for it. One of the  sources claims that almost all shopping centers where the brand is represented have received such warnings.

IKEA stores and studios are represented in ten shopping centers in Moscow.      confirmed receipt of such a notice,   another — no. The top manager of the shopping center, who did not confirm this information, suggested that the Swedish company may not close all outlets at once or choose priority ones for itself and leave them for now.

Prepared by: Sergey Daga