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In Money Matters

Primark lost £650 million in monthly turnover

23rd March 2020 David Stevenson

Primark lost £650 million in monthly turnover Pin It

The closure of all stores of the British Primark clothing chain due to the quarantine measures resulted in a monthly loss of turnover of £ 650 million, or € 705 million. Parent concern Associated British Foods reported this.

Primark has offices in Europe and the United States. No new orders are placed to suppliers. AB Foods stated that measures are being taken to deal with the crisis and costs are being reviewed.

Primark accounts for more than half of the profits of AB Foods, which is also active in the grocery and sugar sector.

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