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400 chains refused to open without compensation from the authorities



Retail chains refused to reopen in Israel after the quarantine without receiving compensation from the authorities.
H&M Group

In Israel, about 400 retail chains refused to reopen after the quarantine was lifted without compensation from the authorities. Among the companies that signed the agreement are international brands H&M, Lee Cooper, and Timberland, as well as local retailers and representatives of the catering market.  

The companies are demanding support measures similar to those received by small and medium-sized businesses in the country. Retailers are demanding 5% revenue compensation if revenue falls by 25-50% and 10% compensation if more than half of the turnover is lost. 

Also, the companies that signed the agreement do not expect to allocate 10,000 shekels (about 2 850 USD) for each returned employee, writes Mignews.com. Other requirements include bank guarantees for government loans of up to 50 percent, the removal of restrictions on unpaid vacations, and the abolition of VAT on purchases abroad for up to $75. 

Earlier it was reported that owners of retail chains sent a letter to Israeli Prime Minister Benjamin Netanyahu asking him to support the business as follows: "We are afraid that the worst is yet to come and we will sink even deeper into the swamp where we are stuck. Any store that opens can't count on more than 50% turnover compared to what it was before the crisis". 


More about shopping malls in Israel

YESTERDAY, USA:
Adidas and AllBird have announced a partnership aimed at creating new environmentally friendly technologies.
DAY BEFORE YESTERDAY, France:
French chain of department stores Galeries Lafayette has announced a new service for customers during the closing of stores.
DAY BEFORE YESTERDAY, USA:
The chain of coffee shops adapts to the realities of the post-quarantine world and focuses on drive-thrus, self-service, and delivery.
May 26, 2020, Italy:
Due to the sharp decline in interest in fashion in the midst of the pandemic, the company is abandoning the traditional calendar of shows and moving to an off-season schedule.
May 26, 2020, Germany:
The masks to protect against coronavirus are called Face Covers and are made from recycled materials.
May 25, 2020, United Kingdom:
Due to the coronavirus pandemic, more and more customers are adopting the habits of the younger generation and do not want to constantly change their wardrobe.
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