The world’s largest clothing retailer H&M announced it will temporarily reopen its stores in Russia to sell off remaining stock before closing its doors in the Russian nation for good. It stated it was impossible to continue retail operations in Russia due to the Ukraine war.

The Swedish retailer had suspended all sales in Russia in March, following the initiation of the Russian military “Special Operation” in Ukraine in February.

H&M has roughly 150 stores and 6,000 employees in Russia. It has not given any timetable for its exiting from the nation.

Chief executive Helena Helmersson said, “After careful consideration, we see it as impossible given the current situation to continue our business in Russia. We are deeply saddened about the impact this will have on our colleagues and very grateful for all their hard work and dedication. Furthermore, we wish to thank our customers for their support throughout the years.”

H&M joins several other companies pulling out of Russia. Some have done so due to being unable to operate due to Western sanctions imposed on the country, while others have done so due to a moral stance on the war, while still others have done so in response to customer complaints.

Russia had been H&M’s sixth-biggest market prior to the brand suspending its operations there. It accounted for 4% of group sales in the fourth quarter of 2021. Having first opened up operations in Russia in 2009, H&M has steadily increased its presence, including opening additional shops under other brand names in its portfolio, such as & Other Stories, and Weekday, as well as allowing online ordering from Monki and Cos.

H&M expects the withdrawal will cost the company roughly two billion Swedish Krona, or US$192 million.