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IKEA launched the liquidation process for its legal entity in Russia

The IKEA Dom LLC company, which manages the IKEA stores in Russia, has launched the process of liquidating a legal entity. The founder of IKEA Dom LLC is Ingka Holding Europe B.V., which is the parent company that manages both the IKEA stores and MEGA shopping centers in Russia.

Earlier in June, IKEA announced it’s still unable to resume their sales in Russia for the foreseeable future and that the company plans to cut its business and staff, as well as sell four factories in Russia. This was followed by an online sale of goods from the IKEA stores that will remain closed and will only work for the issuance of completed orders, as well as the return and exchange of goods, according to the company’s website. Shopping centers MEGA will continue their operation.

In Russia, IKEA has 14 stores in MEGA shopping centers, as well as several IKEA City stores and design studios. Within the manufacturing sector, the company owns 4 factories in Russia: in Esipovo (Moscow region), Tikhvin (Leningrad region), Veliky Novgorod, and Krasnaya Polyana (Kirov region).

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