IKEA to shut down another of its business structures in Russia
IKEA to shut down another of its business structures in Russia (Photo:Amir Cohen / Reuters)
Swedish furniture retailer IKEA has decided to shut down IKEA Purchasing Services Russia LLC, one of its Russian subsidiaries, the Interfax-Russia news agency reported on Nov. 14.
It is noted the relevant decision was made at an extraordinary meeting of the LLC participants on Nov. 10.
IKEA Purchasing Services Rus is owned by IKEA Supply AG (95%) and IKEA Supply Services Holding AG (5%), which are registered in Switzerland.
The company focused on the following:
- creation and use of databases and information resources;
- real estate management;
- provision of intermediary services during its assessment.
Dmitry Churin was appointed its liquidator, who in September of this year acted as liquidator of the Russian subsidiary of another Scandinavian company, namely the Finnish glass processing technology supplier Glaston Oyj.
IKEA has suspended sales in stores and online on the Russian market, as well as production at its factories in Russia since March 4.
The company intends to sell its four factories in Russia and warned that it “does not see the possibility of resuming sales in the near future,” according to an announcement IKEA made in June.
Shortly after, the company held an online sale of goods from its stores, first for employees, then for other consumers. The sale ended on Aug. 15.
In mid-August, IKEA decided to liquidate its Russian daughter company – Ikea Dom LLC.
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