Ikea May Re-Direct Investments From Poland To Bulgaria Or Romania

Swedish furniture retailer IKEA threatened to freeze the bulk of its investments in Poland and redirect them to Bulgaria or Romania, according to Polish business daily Puls Biznesu , quoted by Sofia Echo.

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The company has apparently been ired by legislative limitations regarding the operation of large commercial sites. In particular, Poland introduced legal changes, which narrowed the range of opportunities for their operations and curbed investments in the field.

IKEA plans to build three hypermarkets in Bulgaria. They are to be opened between 2009 and 2011.

The first Ikea store on the Romanian market reported in its first year of functioning sales of EUR87 million. The store was opened in the Baneasa area on March 21, 2007 and is operated in franchise system by Moaro Trading.

A second Ikea store will most probably be opened next year but the location is unknown for the time being.

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