In the first half of 2023, 6,400 retailers had to close. All industries were affected: both large chains and lone wolves. “Many close quietly because they have simply used their own apartment and house as a self-employed person and cannot go bankrupt,” adds trade association boss Rainer Will in the krone.tv interview with Jana Pasching. “The situation remains tense.”
Also, 30 percent of retailers are still waiting for payments from COFAG, which will be processed at the end of September. It is a ‘catastrophe’ that such a large vehicle is implemented and companies that are already doing poorly have to wait.
Rainer Will does not believe in the shake-out of the word market: “You always use this word when you have not achieved anything yourself. Ultimately, it is the courageous entrepreneurs who are left alone here.”
You can watch the entire interview in the video above.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
