Business News
Indian retail reels under coronavirus concerns Bengaluru, Mar 16 : Amid the rising number of coronavirus cases in the country, the order of closure of malls and multiplexes across many top cities by the respective state governments to prevent people congregating for any reason, has caused the organised retail scene there to come to a grinding halt, according to Anarock Retail. Ahmedabad, Bangaluru, Chennai, Delhi/NCR, Hyderabad, Kolkata, Mumbai and Pune have 126 malls sprawling over more than 61 million sq. ft. area, and more than 100 malls have multiplexes attached, the property consultant said. "Wherever it has been mandated, there will therefore be a high number of establishments that need to shut down for operations. Even short-term closures will have significant financial implications," Anarock Retail's MD & CEO, Anuj Kejriwal said in a statement. "However, what matters more is that these establishments attract massive footfalls. In a health crisis like the coronavirus pandemic, shutting them down can be a major step forward in terms of harm prevention," Kejriwal, however, added. |
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