Coronavirus Impact: Mall Operators in Delhi & Other Metros May Offer Relief to Retailers in Rentals As Sales Take Massive Hit

New Delhi, March 20: As the number of COVID-19 infected people in the country shot to 195 on Friday, there is scare and panic in the minds of everyone. As malls across the country have been ordered to remain shut as a means to curb the outspread of the deadly virus, businesses have been severely impacted. According to an Economic Times report, mall operators in the NCR region have started reviewing the impact of the coronavirus outbreak and might possibly offer some relief to their tenants. Coronavirus Scare: Retail Chain Operators Shoppers Stop, Future Group & Others Approach Malls For Rebate in Rentals As Sales & Footfalls Plunge.

It was earlier reported that retail chain operators like Shoppers Stop, Reliance Retail, Future Group, Tata Group and others have approached malls for exemption or rebate in rentals as their sales plunge more than 50 percent due to the coronavirus scare. Owing to low footfalls, brands have been demanding a rebate from malls until the situation improves in the state.

Mall operators across the country are therefore discussing with the retailers on what could be the strategy to provide relief as their business takes a huge hit. As in this condition, paying rent would be a difficult task for them. According to the Health Ministry, the number of infected people in the country rose to 195 on Friday. Till now there have been four deaths reported- one each from Maharashtra, Delhi, Karnataka and Punjab. In order to contain the spread of the virus, respective state governments have banned malls, theatres, schools and any form of public gatherings.

(The above story first appeared on LatestLY on Mar 20, 2020 11:27 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).