Tags: kiea | virus | aid | nine countries

FT: Ikea Is in Talks to Return Virus Aid in 9 Countries

FT: Ikea Is in Talks to Return Virus Aid in 9 Countries
(Tomasz-Bidermann/Dreamstime)

Monday, 15 June 2020 08:43 AM EDT

Ikea is in talks about returning aid granted by nine countries to subsidize furloughs triggered by the coronavirus pandemic because its business is recovering faster than expected, the Financial Times reported.

The global furniture retailer is negotiating with Belgium, Croatia, the Czech Republic, Ireland, Portugal, Romania, Serbia, Spain and the U.S., retail operations manager Tolga Oncu at Ingka Group, which controls Ikea, told the paper.

At the start of the crisis, Ikea had expected sales to drop off between 70% and 80% as it faced store closures, he told the paper. Now all but 23 of its stores have reopened and sales are being buoyed by pent-up demand, he said.

The company wasn’t sure how much money was involved nor exactly how many workers were affected across the nine countries, he said.

© Copyright 2026 Bloomberg News. All rights reserved.


Companies
Ikea is in talks about returning aid granted by nine countries to subsidize furloughs triggered by the coronavirus pandemic because its business is recovering faster than expected, the Financial Times reported.
kiea, virus, aid, nine countries
132
2020-43-15
Monday, 15 June 2020 08:43 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved