Ikea continues to scale down business in Russia and Belarus

Ikea continues to scale down its activities in Russia and Belarus. On 3 March, the Swedish group had already announced that it would pause its operations in the two countries due to Russia's war of aggression on Ukraine. "We do not see that it is possible to resume operations any time soon," it now says in a press release. In this statement, the company announces that the retail business will remain closed, and the workforce will be reduced, while its inventory is to be sold. Inter Ikea is looking for new owners for its four production facilities. Imports and exports to and from Russia and Belarus will remain at a standstill. The two purchasing and logistics offices in Moscow and Minsk will close permanently.