Mumbai, March 18: The scare around coronavirus has increased as the number of COVID-19 infected people in the country has shot up. In order to avoid the spread of the deadly virus, malls across several states have been closed. According to an Economic Times report, leading 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.

Due to the low footfalls, brands have been demanding a rebate from malls until the situation improves in the state. The report mentions that some retailers may ask their employees to adjust their leaves with the period of shutdown. In case the situation continues to persist, then harsher steps might be taken, including job cuts. The ET report mentions that around 60 percent of all retail rentals in the country are fixed while the balance is mostly revenue-sharing deals with the tenant. Coronavirus Scare in India: Consumption Across Malls And Restaurants Dips 15-25% in Two Weeks.

The situation in India due to coronavirus outbreak continues to be worrisome. The total number of COVID-19 cases in India rose to 147 as on Wednesday at 9 am. Maharashtra is the worst affected state in India with a total of 42 cases with the latest being confirmed from Pune. As a precautionary measure, state governments across the country have demanded malls, theatres, gyms, swimming pools and other public areas to be banned to avoid the spread of the virus.

(The above story first appeared on LatestLY on Mar 18, 2020 12:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).