Ikea is closing its first big UK store
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Ikea is preparing to close its Coventry store this year, which will be the first time it has shuttered a large site in the UK since its launch in the country 33 years ago.
More than 350 jobs are at risk following the decision, which Ikea said was due to the “changing behaviour of customers in the area”.
The Swedish retail giant said customers prefer to shop at retail parks and online, rather than the large store format of the Coventry branch.
The site, which was built in 2007, has seven levels meaning the operating costs are high, the company said today.
Ikea said it had tried “a number of initiatives” to improve sales and make the store more cost efficient, as well as options for downsizing or reconfiguring the site.
However, none of the attempts “resolved the fundamental challenges connected to the location and the format of the store”, which will close this summer.
Ikea will enter a period of consultation with the 352 workers affected by the closure, and will aim to retain as many employees as possible.
Ikea UK and Ireland country retail manager Peter Jelkeby said: “The proposed closure of the store has not been an easy decision, particularly given the impact it will have on our co-workers.
“I would like to thank our Coventry co-workers who have contributed enormously throughout this time.
“Although this isn’t an easy decision, this is the right decision for the long-term success of Ikea in the UK.
“At Ikea we are constantly challenging ourselves to find ways to meet the needs of our customers and we will continue to try and test, investing in stores, fulfilment centres, city centre formats and our digital capabilities to make Ikeaeven more affordable, convenient and sustainable.”