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Germany: 'Name and shame' against Adidas and H&M, accused of profiting from the crisis

2020-03-29T21:39:24.945Z


Multinationals have announced in recent days to suspend their monthly rental payments for hundreds of their stores, taking advantage of a government assistance plan.


Across the Rhine, beware of those who are not blameless in the face of the greatest health and economic crisis in the contemporary world. Especially after one of the most important European powers, renowned for its budgetary orthodoxy, has just sacrificed its sacrosanct principle of "brake on the debt", enshrined in its Constitution.

Big names like Adidas and H&M, forced to close their stores in the country are learning at their expense. While Berlin has just completed the largest rescue plan in its history, including in particular broad support measures for tenants and businesses in difficulty on the payment of their rents (no eviction for six months), some armed groups to pass the crisis would try to take advantage of it. In any case, this is the trial of the two multinationals, beneficiaries in 2019, who have announced in recent days that they will suspend their monthly rental payments for the hundreds of their stores that have lowered their curtains in the country (460 for H&M). Adidas (here a store in Berlin) may be one of the jewels of the country, the pill has not passed to Berlin. If Olaf Scholz, the German Minister of Finance, was content to describe this choice as "irritating" , the Minister of Justice Christine Lambrecht, considered " indecent and unacceptable that financially solid companies stop paying their rents" .

According to other German media, Puma, electronics manufacturers Saturn and Media Markt and the shoe chain Deichmann may be next on the list of this "name and shame" of the coronavirus.

Source: lefigaro

All business articles on 2020-03-29

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