By Dominic Chopping
STOCKHOLM – IKEA said on Wednesday it was further reducing its business operations in Russia and Belarus as the consequences of the war in Ukraine continue to have a significant impact on businesses and supply chains around the world, without possibility of resuming operations anytime soon.
The Swedish furniture maker said in March it was closing all of its stores in Russia, stopping production in the country and halting all exports and imports to and from Russia and Belarus.
On Wednesday, IKEA brand owner Inter IKEA Group and store owner/operator Ingka Holding BV announced that they have now decided to enter a new phase to further reduce their business in Russia and Belarus.
IKEA’s retail business will remain closed and the workforce reduced, while the industrial business in Russia – which manufactures products – will also reduce its workforce and begin the process of finding a new owner for its four factories. .
The import and export of IKEA products to and from Russia and Belarus will remain halted, and the two Inter IKEA-owned purchasing and logistics offices in Moscow and Minsk will close permanently, he said.
Ingka operates 392 IKEA stores worldwide, including 17 in Russia.
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