© Reuters. FILE PHOTO: Clients stroll in IKEA retailer, in Moscow, Russia, March 3, 2022. REUTERS/Employees/File Picture
(Reuters) – Swedish furnishings firm IKEA on Wednesday mentioned it had made the “tough choice” to scale down its enterprise in Russia, pointing to a major deterioration in provide chains all over the world.
“In view of this, we don’t see any chance to renew gross sales within the foreseeable future,” the corporate mentioned.
In March, IKEA quickly closed shops and paused sourcing in Russia, however had continued paying workers.
IKEA mentioned it might begin on the lookout for new house owners of 4 of its factories.
