Pause operations: company temporarily curtailing operations while keeping return options open
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Fast Retailing Co., Ltd is a public Japanese multinational retail holding company. Uniqlo Co., Ltd. is a Japanese casual wear designer, manufacturer and retailer. The company is a wholly owned subsidiary of Fast Retailing Co., Ltd.
Pause operations: company temporarily curtailing operations while keeping return options open
Leave SuspensionThe Japanese clothing chain Uniqlo received more than 10 billion rubles of losses in Russia at the end of 2022, decided to close most of its large stores here.
Subsidiary Uniqlo suspended some operations in Russia. The Japanese clothing retailer Uniqlo has informed the company's staff that some stores in Russia, which suspended operations in March 2022, will be completely closed. Uniqlo to sell most of its stores in Russia after incurring significant losses. Uniqlo has refused to rent premises for all its stores in the Russian Federation: these spaces have already been occupied or are being occupied by other retailers. The company really waited an hour, keeping salaries, staff and an office in Russia. Now the legal entity of the retailer has stopped any activity. True, Uniqlo does not plan to liquidate it, hoping to resume business someday, says one of its partners. Uniqlo becomes the most popular brand for online orders abroad.