Primark furloughs 68,000 as sales go from £650m a month to zero

Primark furloughs 68,000 as sales go from £650m a month to zero

Primark has seen sales slump from £650mn a month to zero as all its 376 stores remain closed due to Cvoid-19 lockdown. Primark has furloughed 68,000 workers across EU and is to seek help from landlords for lease payments. Primark’s inventory stands at £1.5bn and it expects to take a £284mn stock write off lying in its warehouses which is expected to be sold at discounted prices once stores open.

Milan
Milan
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