March 18, 2020

Due to the Covid-19 situation the H&M group will temporarily close all its stores in Germany (460*) from March 18, based on decisions by the German authorities. In addition, the group is also closing all its stores for two weeks in the US (590*), Canada (96*), Portugal and Belgium from March 17.

The management board of Żabka Polska, the owner of the largest chain of convenience stores in Central and Eastern Europe, decided to transfer over €1 million for activities addressing the epidemiological threat. The company sent an official letter to the Prime Minister and declared full support in ensuring the safety of all Polish citizens.

The effects of the global coronavirus situation are expected to have a negative impact on the Stockmann Group’s business environment in the short term.

Who benefits from these extensive store closures in Europe? Some experts see online retail as the big winner. But this is not necessarily the case.

Eurocommercial is very appreciative of the impact of these unprecedented measures on its tenants and expects to grant temporary support to a number of them.