Retailers Ask Landlords To Slash Rents
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2019-08-22 HKT 21:35
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Retailers have called on landlords to cut shop rent by half for six months to ride out the ongoing turmoil "together".
In a letter addressed to all shop owners, the Retail Management Association said business started going downhill in June and sales have now suffered double digit drop.
It said most retailers saw sales plummet more than 50 percent from the beginning of this month.
The association warned that some shops may have to cut staff or even shut down.
It called on the government to help the trade with specific measures such as financial subsidy and rates waiver.
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