IKEA Closes Stores Worldwide

During the closure of IKEA stores, 18 thousand employees will receive various benefits and paid vacations.

IKEA has announced its intention to close all stores in the U.S. amidst the spread of Covid-19. Only the online shop of the Swedish retailer will continue to work on the territory of the state. Currently, IKEA has 50 large-format stores in the U.S. in its portfolio.

"Unprecedented times require unprecedented measures. We take seriously our role in containing this epidemic and recognize the positive impact that our actions can have on improving the lives of millions of people affected by this crisis," commented Javier Quinones, IKEA's Head of Business in the United States. 

It is reported that after the closure of 18 thousand employees, the company will receive various benefits and paid breaks. Earlier, several major retailers, including Nike and Adidas, reported the payment of wages during the closure of retail stores in the U.S.

In March, IKEA already suspended retail stores in fourteen countries, including Italy, Spain, France, and Germany. It is not yet reported what losses will result from the suspension of the company's operations in the world's leading markets.  

As of 20 March 2020, IKEA is suspending stores in 20 countries: China, Canada, India, Austria, Belgium, Croatia, the Czech Republic, Hungary, Spain, Italy, Germany, France, Denmark, the Netherlands, Poland, Portugal, Slovakia, Switzerland, the UK, and Ireland. The opening of stores may take place no earlier than 23-29 March in several countries. In Switzerland, IKEA has suspended operations until 19 April, and in most markets - until a particular order. 

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