Coronavirus Impact: Restaurants, Multiplexes, Retailers Seek Relief in Rentals From Malls, Fitness Industry Runs Petition Asking For Help Amid Lockdown in India

Mumbai, April 3: India is in the middle of a 21-days nationwide lockdown to curb the spread of the coronavirus which has infected several people and claimed 56 lives so far. According to an Economic Times report, some big names like McDonald’s, Jubilant FoodWorks-operated Domino’s Pizza, Speciality Restaurants, Reliance Retail, Future Group, and PVR have written individually to mall owners seeking a waiver of rentals till May. Due to the lockdown, restaurants, gyms, retailers, multiplexes and malls have been closed.

All of them have cited that there has been zero revenue in the immediate term due to the nationwide lockdown and a drop of almost 50 percent in revenues for the next few months, as India struggles to fight the coronavirus pandemic. Coronavirus Impact: Mall Operators in Delhi & Other Metros May Offer Relief to Retailers in Rentals As Sales Take Massive Hit.

The fitness industry has started a petition on Change.org seeking help from people to help them overcome the crisis. It mentions that with the outbreak of COVID-19 and the lockdown, it has led to financial losses to gym owners, fitness studious and it has become impossible to for the business owners to survive under this debt. The petition further mentions that 25-30 percent people are at risk of losing jobs due to this pandemic.

The scenario is similar for the restaurant industry as well, as the Rs 4.2 lakh crore restaurant industry, which employs over seven million people, is staring at store closures, job cuts and huge slash in the revenue.

(The above story first appeared on LatestLY on Apr 03, 2020 01:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).