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Retailer Canadian Tire pauses Helly Hansen operations in Russia -Breaking

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© Reuters. Canadian Tire logo seen in Ottawa Ontario Canada, 14 February 2019. REUTERS/Chris Wattie

(Reuters) – Canadian Tire Corp Ltd announced on Friday that the Helly Hansen brand will be temporarily suspended in Russia. It joins a whole host of Western companies who have closed down their operations there due to Ukraine’s invasion.

Helly Hansen sells luggage and outerwear in 41 locations throughout Russia. It employs over 300 people.

Fashion outlet H&M, Nike After several countries imposed severe sanctions on Moscow, both Netflix Inc (NASDAQ) and (NYSE:) have ceased operations in Russia.

Canadian Tire announced that Helly Hansen Store employees will be compensated and supported during the temporarily suspended operations.

According to a statement, the company plans to also meet its commercial obligations.

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