TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Primark closes all stores, stops new orders with suppliers over coronavirus

  (Reuters)
London
Mon, March 23, 2020

Share This Article

Change Size

Primark closes all stores, stops new orders with suppliers over coronavirus The exterior of Primark on Feb. 14, 2016, in London, UK. (Shutterstock/Konmac)

P

rimark is closing all of its stores, a loss of roughly 650 million pounds (US$760 million) worth of net sales a month, and will stop placing new orders with suppliers, its parent company said on Monday as the coronavirus outbreak deepens.

Governments in several countries are heavily curtailing the movement of people in order to stop the spread of the pandemic, which has killed thousands and caused disruption to livelihoods around the world.

"A variety of work streams have been established to mitigate the effect of the contribution lost from these sales and all expenditure is being reviewed," Associated British Foods said.

Read also: McDonald's to temporarily close all UK, Ireland restaurants amid coronavirus outbreak

"We currently estimate being able to recover some 50 percent of total operating costs."

The clothing retailer, which accounts for about half of the group's revenue and profit, has shut all of its 376 outlets in 12 countries until further notice.

AB Foods said it has not seen a material impact on its sugar, grocery, ingredients and agriculture operations. Its total available liquidity stands at 1.9 billion pounds.

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.