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Multinational retail chain abandoning Crimea

April 18, 2014, 16:40 UTC+3 MOSCOW
Danish retail chain JYSK is closing down its three trading centers in Crimea due to the situation that has taken shape in Crimea and pursuant to the requirements of the law
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A view of Crimea's capital, Simferopol

A view of Crimea's capital, Simferopol

© ITAR-TASS/Alexander Ryumin

MOSCOW, April 18, 16:17 /ITAR-TASS/. Danish retail chain JYSK, one of Europe’s leading operators in articles for the household with an annual turnover of $ 2.0 billion, is closing down its three trading centers in Crimea due to the situation that has taken shape in Crimea and pursuant to the requirements of the law on the rights and freedoms of citizens on “the temporarily occupied territories”.

The company said it in a press release.

The supermarkets in Simferopol, Sevastopol and Yalta will be closed down April 30. Along with it, JYSK is offering relocations to its outlets in Ukraine to all the workers of the Crimean three supermarkets.

As for the workers who will not be able to relocate, JYSK will pay out a monthly wage plus all the benefits Ukrainian laws envision for such situations to them.

JYSK, a subsidiary of LARS LARSEN Group, was founded by the Danish businessman Lars Larsen in 1979. It has more than 2.000 retail outlets in 36 countries at present (mostly in Europe).

The chain has a trade turnover of around 2.9 billion euro a year and most of it falls on JYSK-branded goods. The company keeps the by-country trade turnover breakdown confidential.

It opened its first supermarket in Ukraine in 2004. It has grown to twenty-one since then.

In 2012, JYSK made public an ambitious plan to ramify its Ukrainian network independently and to boost the number of supermarkets there to 200 over the next ten years.

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