27th April 2008
Tuesday, February 9th, 2010
Ikea suspends all investments in Poland
Swedish IKEA halted all of its investment projects in Poland due to stipulations in the act on large space stores, which hinders development of such outlets. Despite earlier announcements, the government did not uplift the law left by the previous government.
"The act on large space stores is a non-avoidable barrier to us in terms of expanding and constructing stores and shopping malls, such as in £ód¼ [which has an investment value of €200 million and 2,000 jobs) and Poznań [€100 million and 1,000 jobs]," said Wojciech Dzwonkowski, investment director at Inter IKEA Centre Polska. He added, "This puts all investments planned for the following years into question [...] By 2015 we planned opening eight IKEA stores with surrounding shopping malls [...] The cost of one investment amounts to €200 million,". The firm had already prepared the projects and had funds to finance the investments.
From Warsaw Business Journal
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