This popular retailer firm 81 stores due to "a significant disturbance"
This world renowned company completely ends its activities in an area.
No one is immune to store closures these days, as even at the topRetailers like Walmart And Whole Foods recentlyHe turned out to be the lights Permanently in places through the United States, but these retailers have cited individual performances in closed stores, other companies have started to pursue mass closings worldwide to compensate for various challenges that are Appeared in recent years, such as staff shortages, increased inflation, and safety problems. Now another popular retailer has just announced that he is closing more than 80 of his locations. Read the rest to find out how "in -depth disturbance" led to another major closure.
Read this then:These large clothing stores are closing locations, from July 18.
Many companies have announced mass closings in the past year.
Mass companies closings have struck a number of different retail sectors. In November 2021, CVS announced that it was planning toClose 900 stores At the end of 2024, part of a major overhaul of its retail imprint. Then in May of this year, Starbucks decided to close 130 locations in Russia - a decision taken during the Ukraine's current invasion by the country which guarantees that the popular coffee chain "will no longer behave a brand presence"On the Russian market.Almost half of its total locations In the United States, "helping to improve the financial performance of the company".AE0FCC31AE342FD3A1346EBB1F342FCB
Now another company has announced a large number of store closings at a time.
Another company has just closed more than 80 stores.
Alongside Starbucks, a different popular company has decided to withdraw its activities from Russia. LegoI just terminated his contract With the inventive Retail Group (IRG), a franchisee that owned and operated 81 Lego stores in the country, Reuters reported. Lego will also dismiss its 90 employees based in Moscow.
According to the media, IRG confirmed on July 12 that the largest toomemaker in the world had ended its partnership. "Our company will continue to work as an expert in the category of conceptions and the development of toys," an IRG spokesperson told Reuters.
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Lego said that "important disturbances" in Russia have led to the decision.
Lego's decision to close its activities in Russia indefinitely seems to be the natural progression of the changes it has already made. According to Reuters, the Toymaker took a break by expedition in Russia in March, then in June, said that he would temporarily freeze in some stores due to challenges. Now, "Lego has decided to cease indefinitely commercial operations in Russia given the significant disruption of the operational environment," a Lego spokesman for the media told.
Other retailers have reduced links with Russian partners.
Starbucks and Lego are not the only two companies to end their business in Russia in the middle of the invasion of the country of Ukraine. In May, NikeAlso cut links With IRG. The Russian franchisee was informed that the clothing company has chosen not to renew its agreements, which operated 37 Nike brand stores in the country. The company also closed nearly a hundred additional stores in May which were not franchised, because Nike operated around 116 locations in Russia in March 2022.
"Nike made the decision ofleave the Russian market"Said the company in a statement in Reuters." Our priority is to make sure that we fully support our employees while we are responsible for our operations in the coming months. ""
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