270,000 firms risk shutting down in Italy
20:43, 13 May 2020
ROME. KAZINFORM - Some 270,000 businesses risk shutting down in Italy due to the coronavirus, with the loss of 420,000 jobs, retail association Confcommercio said Wednesday.
«Operators have run out of patience, we've seen nothing apart from the 600 euros (government subsidy)», said the association in a Lower House hearing.
The tourist season, it added, will register «huge» losses seeing that, with the exception of people who have second homes, only 20% of Italians will be able to go on holiday.
It said tourism sector losses could be in the region of 120 billion euros from now until the end of 2020.
Source: ANSA