STOCKHOLM, July 18 (AFP): Swedish fashion retailer H&M said on Monday it had decided to wind down operations in Russia, after pausing all sales there in March following Moscow's invasion of Ukraine.
The company cited "current operational challenges and an unpredictable future" as the basis for the decision.
"After careful consideration, we see it as impossible given the current situation to continue our business in Russia," H&M Group CEO Helena Helmersson said in a statement.
"We are deeply saddened about the impact this will have on our colleagues and very grateful for all their hard work and dedication," she added.
H&M to close operations in Russia
FE Team | Published: July 18, 2022 22:47:35
H&M to close operations in Russia
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