by winston » Fri Apr 17, 2020 8:18 am
Hong Kong Could See Quarter Of All Retail Stores Shutter By Year-EndThe retail association said that about 17,200 stores are expected to close this year if there is no change to the current situation. That’s about a quarter of Hong Kong’s retail stores.
Hong Kong’s retail sales fell by a record 44 percent in February from a year earlier.
The association is calling on landlords to slash rent by 75 percent for at least six months — or allow retailers to pay just a portion of their rent, based on sales, for that same period of time.
Approximately 37 percent of respondents believe they can stay in business for up to four months.
Seventy-two percent of survey respondents have gotten some type of rent reduction.
Source: PYMPTS
https://www.pymnts.com/news/retail/2020 ... s-shutter/
It's all about "how much you made when you were right" & "how little you lost when you were wrong"