Insider Business C. Zorbas: A lot of businesses will collapse

C. Zorbas: A lot of businesses will collapse

Many businesses in Cyprus will collapse now that everything has been shut down in order to slow the spread of the coronavirus, Zorbas Bakeries CEO Costas Zorbas told Phileleftheros.

And after the coronavirus nightmare is over all businesses, except supermarkets, will face problems so better coordination between the government and the financial world is a must, he added.

“The government should not shut down supermarkets and bakeries on Sunday. Because overcrowding in bakeries and supermarkets will be observed on Saturday. Is this not a matter of public safety and health? If the consumer is not allowed to go anywhere on Sunday, then he/she will go shopping on Saturday,” Zorbas said.

“A household’s first need is bread and milk. Since the government is so concerned with health safety then it should close the supermarket and whoever needs and bread should be able to go to the bakery. This is how you mitigate the risk and achieve dispersion,” he also said.

Zorbas believes the country’s lockdown will continue up until mid-May and expressed concern that many businesses will collapse.

Rents, electricity and water bills are running and so is the payroll, he said, wondering whether employees can live with 60% of their salaries.

As for exports, he said those are ongoing but the problem is nonetheless not solved.

Industrialists are in turmoil and plan to sit around the same table and draw up a list of proposals to be sent to government officials.

“We are confronted with common problems and we will discuss them with each other so as to propose measures to stimulate the industry,” he said.

By Demetra Landou

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