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Primark halts production and cancels orders.

March 24 2020

08:22

The Irish fashion chain Primark has closed stores, ordered suppliers to halt production, and canceled all orders. " We have no other option but to take this measure ," said Paul Marchant, CEO of Primark, quoted by the international press.

The manager mentions large quantities of stock in the 376 stores across the 12 countries where Primark operates, in warehouses, and in transit, and acknowledges that this " is an unprecedented action for unprecedented times ."

Globally, the Irish group estimates a loss in revenue of around 708 million euros.

In Portugal, as reported by Expresso, the group's stores closed last week, but the 189 points of sale in the United Kingdom, which account for more than 40% of the group's nine billion euro sales in the last fiscal year, only closed this Monday, March 23.

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