Blue Dragon

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clothing giant Primark has to make £650m in sales a month, nothing other than the coronavirus is forced to close it, in Europe and the USA

Primark owner Associated British Foods "was directly in The Path of this pandemic," said chief George Weston.

Without a holiday, the support of European States, many of Primark's would have been dismissed with 68,000 employees, He Said .

The Company has also written down the value of its clothing stock from £284m.

"make a turnover of £650m every month, since The Last of our stores closed on 22. In March, we have nothing to sell," said Mr Weston said.

He added that he would "be able" to love, to open Primark stores, "I know we must not do so until we have suppressed this disease."

Mr Weston also said that, if the stores can open again, "we need to have our Primark stores safe for our employees and our customers, even if that means that the warranty and there are less people shopping at any time and accept it as it is, less sales, at least until the residual risk is minimal".

"In Time we can rebuild the profits. We can't replace The People we lose. "

Mr Weston paid tribute to two employees of AB Foods, who died within The Last three weeks of coronavirus.

Mario Marioli worked for 40 Years to a yeast-plant, which The Company owns in Italy and Claudio Maini worked at the Italian Balsamic Vinegar maker vinegar for 20 years.

AB Foods said it had paid, Primark has received a supplier for bearings, and is a Fund, to ensure that the workers who make these clothes are paid for.

the move comes at a time when competing retailers asked suppliers for the payment of public holidays and cuts.

Earlier this month, New Look suppliers for existing inventory "for an indefinite period of time," she says in a letter that the stock can be collected by the owner.

Foods rich in cash, by comparison with many companies with a High Street presence.

It has £801m in cash and £1. 09bn loan agreed, the pulled it recently, and when banks have problems lending in The Future .

as well as Primark, Associated British Foods owns food brands such as Twinings tea, Blue Dragon sauces, and Ovaltine.

For these and other companies outside of Primark, has kept The Company , its financial forecasts for the year are the same.

But while many rivals have been able to power their online sales, Primark on its website.

This is a big problem for food, such as Primark usually carries About two-thirds of The Company 's profits.

"Although FROM Foods, some of the guides benefit from the product and geographical diversification in other parts of The Group , the impact of The Loss of Primark's income, even if only temporarily, is a heavy blow," says Richard Hunter, head of markets at Interactive Investor .

The shares fell 4. 2% in London trading to 1,903. 5 pence per unit, the valuation of The Company , at About £15bn. The shares changed to 2,708 pence each in February.

Overall, it said that The Group fell to a profit for The First half of the year to £217m from £389m.

"Our food companies have the continuation of the production at all sites, the conservation of their essential output in support of the food -, feed-and pharmaceutical supply chains. This is and will remain an important priority for us," said Mr. Weston.

In other retail news:

retailing, primark, coronavirus lockdown measures, companies

Source of news: bbc.com