BREAKING: IKEA is no longer coming to Cary

CARY, NC (WTVD) --

Cary town officials said Wednesday that Swedish furniture giant IKEA will not put a store in Cary after all.

Cary Town Manager Sean R. Stegall tweeted that "because of IKEA's evolving business model, there will be no store in Cary."

The iconic furniture seller has changed strategy and is looking to push into new markets, such as India and into South America, while developing smaller-format stores in cities such as London and Tokyo.

The IKEA was expected to revitalize Cary Towne Center.

"We are obviously very disappointed," Stegall said.

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