Mall investors advise taking shutters down

Mall investors advise taking shutters down

Mall investors advise taking shutters down

Shopping mall investors have called on the government to shut down the malls temporarily as part of measures to curb the spread of the coronavirus.

“The management of the Association of Shopping Centers and Investors (AYD) has made an advisory decision to shut down the malls in accordance with the call from President Recep Tayyip Erdoğan to stay at home, aiming to support public health and considering the demands from the society and the retailers,” said a statement of the AYD on March 19.

They expect a decision from the public authorities urgently, the statement said.

None of the employees will be laid off and they will provide convenience to the shop tenants, it added.

Sales down 70 percent

The head of Turkey’s United Brands Association said on March 19 that sales of stores on high streets and shopping malls have dropped 70 percent in the past week due to the coronavirus.

Sinan Öncel, whose association represents 384 brands and 70,000 domestic stores, told Reuters companies cannot make up for the lost sales and that the online sales infrastructure was insufficient.
Companies were prioritizing paying employees, he said.