THE WHAT? Several UK retailers have closed their stores to shoppers this week, with far-reaching implications for suppliers and landlords – and possibly entire industries – according to a report published by The Times.
THE DETAILS Primark, for example, announced that it would close all UK stores and cancel all orders in production, spelling disaster for its many suppliers.
“We are deeply saddened that this will clearly have an effect throughout our entire supply chain,” Paul Marchant, Primark CEO told The Times.
At the same time, Arcadia-owned Debenhams has warned landlords that it will be forced to close stores for good unless they slash rents. Payments to suppliers have been frozen.
THE WHY? As businesses come under ever more pressure to comply with the UK’s social distancing measures, and a lockdown is threatened, traffic has hit an all-time low. With no online shopping facility, Primark has no alternative than to cancel orders.