Marx & Spencer

Marks & Spencer has 48 stores in Russia. The stores were run on a contract basis by a Turkish company called FIFA.

Deportation from Russia

According to company officials, Marx & Spencer has decided to leave Russia completely after 17 years, after all legal issues have been resolved.

Extra cost

The move from Russia to another country is estimated to cost the company about 33 million euros.

Report

“Many of our businesses in Ukraine have been shut down due to Russia’s war on Ukraine,” Marx & Spencer said in a statement. But we are serving in Ukraine as much as possible with the cooperation of our allies in that country.

No sale

But business in Russia has reportedly been forced to close. The report also confirms that Marx & Spencer’s brands will no longer be sold in Russia.

And some companies

Although Marx & Spencer’s decision came as a shock to Russia, Ukraine has announced that it will not back down from its end of the war. Following in the footsteps of Marx & Spencer, some other companies have reportedly decided to leave Russia.