OBI Group Discontinues Operations In Russia

OBI Group, the third largest Home Improvement retailer in Europe after Groupe Adeo and Kingfisher, has announced that it has decided to close its operations in Russia.

OBI Group is headquartered in Germany and operates stores across eleven European countries. Its Russian business employs around 4,900 people in 27 stores. 

The Russian OBI website has been taken offline.

The company made the following statement on a LinkedIn post: 

"OBI Group is deeply concerned about the tragic developments and consequences of the war in Ukraine.

"This war and its consequences have already a massive impact on people and unforeseen effects on our business operations, which make it impossible to continue our business. Unfortunately, there is no alternative for the OBI Group than to discontinue business in Russia.

"All our colleagues share our strong common values and we are enormously thankful for their high commitment."

Source : OBI Group

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