Corona crisis: Adidas does not want to pay rent for its stores in April and is making use of a new law. This causes a lot of criticism - not only from politics and business.
- The corona virus * is causing massive damage to the global economy
- Numerous countries set up aid programs *
- Adidas has had a record year in 2019 and has been making billions in profits for years - the company suspends rental payments for its stores
- Here you will find the basic facts about the corona virus *. You can also find current case numbers in Germany as a map here *
Munich - Just a few days ago, when the Corona crisis was not yet in control of Germany, solidarity became a catchword on the political side. In her speech to the population, Angela Merkel pointed out that the upcoming crisis would only be overcome with solidarity. In sports, too, the call for solidarity was immediate when it became clear that the clubs were at a loss financially.
But it was also challenged in the economy and in social life in order to master the current crisis . Now we have the exit restrictions in Germany , normal life is almost paralyzed. And what about solidarity ?
Corona crisis: Adidas hammer! Violent criticism of the company - "Indecent and unacceptable"
The partial shutdown results in economic losses for small and medium-sized companies. The Corona Aid Laws are designed to ensure that these existences are not threatened. But the big companies will also suffer from the corona crisis . However, listed companies will not be directly concerned with livelihoods.
Despite billions of profits in the past financial year, the sporting goods manufacturer Adidas did not want to pay rent for the retail stores it closed due to the Corona crisis .
“It is true that Adidas, like many other companies, temporarily suspends rent payments as a precaution where our stores are closed. We are in close contact with the landlords concerned, ”said a company spokeswoman on Friday, thereby confirming a report by Bild . The Swedish fashion chain H&M later announced a similar approach.
Corona crisis: Adidas action is "indecent and unacceptable"
Federal Justice Minister Christine Lambrecht (SPD) was outraged by the stop of rent payments. "If financially strong companies simply no longer pay their rents, this is indecent and unacceptable ," she said in Berlin on Saturday. The Corona Aid Laws provide no basis for this. It continues to apply: “Of course, tenants have to pay their rent. If they actually experience serious payment difficulties as a result of the crisis, they can only be terminated for a limited period. "
In the meantime, the company has responded to the harsh criticism and will at least continue to pay rent to private landlords in its branches, regardless of the closings in the Corona crisis . "We have exempted them, they will receive their April rent as usual," said CEO Kasper Rorsted of the Frankfurter Allgemeine Zeitung (Monday edition). Most of their own businesses would be rented by large property marketers and insurance funds. For the measure to temporarily suspend rental payments, they “had shown mostly understanding”.
In addition, Rorsted announced that Adidas would apply for short-time work for production, warehouse and employees in the self-operated stores this week. In the event of weeks of restrictions, the company boss said: "This will lead to massive economic upheavals, much worse than in the 2008/2009 financial crisis."
Federal Finance Minister and Vice-Chancellor Olaf Scholz (SPD) was "irritated" at the weekend about the behavior of the big companies. "Now is the time for cooperation. A good business relationship also includes communicating with each other in difficult times, "says Scholz:" My advice: put it together and consider together with the landlords or the suppliers how to get through this crisis. "
Corona crisis: Munich comedian Harry G. blasphemes about Adidas and announces boycott
The SPD member of the Bundestag Florian Post, who symbolically burned an Adidas polo shirt in a garbage can, got a little shit storm for it. The Facebook video of Munich comedian Harry G. was shared by hundreds. In the clip, he sharply criticized Adidas and announced that he would no longer buy goods from the sporting goods manufacturer in the future.
In addition to Adidas, H&M and Deichmann also announced that they would temporarily not pay any rent in April. New Balance meanwhile extends the fact that there is another way. The English sporting goods manufacturer quickly switches and wants to participate in the production of protective masks with its know-how and company capacities.
All hands on deck. Our US factories are working to develop, manufacture and deliver facial masks to the hospital community.
To learn more, visit: https://t.co/qxQ3uqBIyE pic.twitter.com/xGKyCKx8Lm
Former sports commentator Marcel Reif also criticized Adidas for the announced rental stop on Sunday.
Corona crisis / Adidas: Executive Board temporarily waives salary
Adidas recently had a record year in sales and profits. Adidas had to gradually close its self-managed retail stores in Europe and North America from January onwards due to the crisis. In Asia and Latin America, the stores had initially continued to run. In Latin America, as well as in parts of Asia, the stores are now also closed.
In China, most of them are open again, albeit with reduced opening hours in some cases. Adidas experienced a significant drop in sales in the affected markets, a spokeswoman said on Friday.
Adidas CEO around company boss Kasper Rorsted now wants to temporarily waive the payment of 50 percent of his salary. The management level below the board temporarily waives 30 percent of their regular remuneration.
smk / dpa
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List of rubric lists: © dpa / Nicolas Armer