{"id":3213,"date":"2024-03-19T17:30:00","date_gmt":"2024-03-19T09:30:00","guid":{"rendered":"https:\/\/www.textile-fabric.com\/archives\/3213"},"modified":"2024-03-19T17:30:00","modified_gmt":"2024-03-19T09:30:00","slug":"hm-shuts-down-russian-operations-causing-billions-of-crown-losses","status":"publish","type":"post","link":"https:\/\/www.textile-fabric.com\/?p=3213","title":{"rendered":"H&amp;M shuts down Russian operations, causing billions of crown losses"},"content":{"rendered":"<p>&#8220;Swedish Daily News&#8221; reported on July 18 that Swedish clothing chain distributor H&amp;asdfssdfsmp;M said that the company has decided to stop its business in Russia, which has brought billions to the group  Swedish krona loss.  H&amp;asdfssdfsmp;M said that in view of the current operating challenges and the unpredictable future, the company announced that it will begin to gradually close its business in Russia.  H&amp;asdfssdfsmp;M has entered the Russian market since 2009.  It is estimated that closing the business in Russia will cost the company 2 billion Swedish kronor, of which 1 billion kronor is in cash.  H&amp;asdfssdfsmp;M said it would sell remaining inventory in Russia.  Earlier this year, H&amp;asdfssdfsmp;M suspended its operations in Russia after the Russian-Ukrainian war broke out.  &lt;\/p<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Swedish Daily News&#8221; reported on July 18 that Swedish clothing chain distributor H&amp;asdfssdfsmp;M said that the company has decided to stop its business in Russia, w&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[46],"class_list":["post-3213","post","type-post","status-publish","format-standard","hentry","category-textile-fabric-news","tag-db"],"_links":{"self":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/3213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3213"}],"version-history":[{"count":0,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/3213\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}