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JYSK is permanently exiting Russia: “We see no other possibility”

// JYSK temporarily shut its entire Russian store network a month ago following the ongoing invasion of Ukraine, but has now said the closure will be permanent
// The stores of the Danish chain will remain open on March 31 to sell off the remaining goods

Amid Russia’s now month-long ongoing invasion of Ukraine, on March 3rd the Danish furniture and home furnishings chain JYSK announced it would be temporarily shuttering of all its stores in Russia.

However, it has now clarified that the business had made the decision to withdraw irrevocably from the Russian market.

According to the published announcement, chain’s stores will remain open on March 31 to sell the remaining goods and then JYSK’s stores in Russia will be closed irrevocably and the lease agreements will be terminated.

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Russian employees of the retailer will receive compensation in accordance with local law.

“We went to Russia with the aim of offering good opportunities to the Russians and we had a good start, for which I can thank everyone involved. However, in the current situation, the management and owners see nothing possibility other than closing the business in Russia ” – wrote JYSK president Jan Bøgh in the official message.

While numerous big name western retailers have ceased activities in Russia temporarily, including H&M and Marks & Spencer, this marks the first time a retailer has confirmed that they will be closing for good in the nation.

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The post JYSK is permanently exiting Russia: “We see no other possibility” appeared first on Retail Gazette.



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