OREANDA-NEWS. Large retailers have begun to suspend their work in Russia due to possible serious financial losses and fines on rental payments. Writes about this "Kommersant".

“The complete withdrawal of large networks from the country is associated with serious financial losses due to fines for rent payments and payments to staff in case of reduction,” said Alexei Vanchugov, managing partner of Vanchugov & Partners.

Analysts considered that most large companies are unlikely to want to leave Russia. To date, they are only guided by the general opinion abroad. At the same time, most of the departed firms can return if the military special operation in Ukraine ends quickly, otherwise they will simply have to mothball their business in Russia.

Experts shared that not all retailers can calmly and unilaterally leave Russia. In most cases, it is necessary to send the owner of the shopping center or premises a proposal for termination, and at least a month in advance. If this does not happen, then all disputes will be conducted in court.

Some experts explained that in the near future up to half of all areas in the shopping center could be vacated. To take them back, you need a lot of time. In addition, the closure of cinemas, which made money mainly on foreign films and generated a lot of traffic, could be a blow to business.

On March 3, the Swedish IKEA, the Danish home goods retailer Jysk and the Spanish chain Mango announced the suspension of work in Russia. The H&M Group also announced this the day before (it also manages COS, Monki, etc. stores).