H&M commented on the information about the closure of stores on November 30

H&M stores in Russia will continue to work until most of the items are sold out, transmits “RIA Novosti” with reference to the press service of the retailer. There is no official closing date yet.

Earlier in the network there were reports that H&M stores will close in Russia on November 30th. The message received by the employees from the company’s management says that within two weeks the remaining products and equipment will be removed from the rented premises. In mid-December, workers should receive compensation.

At the end of July, Kommersant learned that H&M was looking for buyers for its business in Russia. This information was also confirmed by the Ministry of Industry and Trade. According to the newspaper, the assets put up for sale include a portfolio of lease rights for about 170 stores in 65 Russian cities, a distribution center with an area of ​​57,700 sq. m and stocks of goods for 30 weeks, the cost of which is estimated at $ 210 million.

H&M suspended work in Russia after the start of a special military operation in Ukraine. On July 18, the company announced its final withdrawal from the country. On August 2, the company’s stores resumed work in the Aviapark and Metropolis shopping centers. On August 18, the press service of H&M announced the opening of 118 out of 120 stores. Despite reports of a sale, the cost of clothes remained within the previous prices. The spring and summer collections have become available to customers.

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