The clothing trade may be on the brink of a wave of bankruptcies, which has also been severely affected by pandemic restrictions. Cosmos City closes about 20 stores in Hungary.

The Cosmos City clothing chain has closed all 20 stores in Hungary and is leaving the country, Napi.hu reported on the news.

So far, the network has operated low-cost, large-scale clothing stores in four locations in Budapest, while in most rural capitals in the countryside, as well as in a few other cities. By the way, Napi.hu could not find any information about the company behind the chain of stores.

Although in November-December the income of clothing retailers decreased by the same amount, by 40-60 percent, as in spring, but since most of their turnover is done during this period, with more expensive products, This drop is greater, Norbert Csordás, t, and spokesman for the Tenant Defense Association (BBÉE), which groups together food court restoration companies. The specialist foresees a wave of bankruptcies.

Due to the restrictions, the biggest decrease was suffered by the tenants of the shopping centers in Budapest with the highest rents and the largest number of people.

Recently Promod, Charles Vögele and Vagabond also left Hungary.



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Promod withdraws from Hungary



hvg.hu
Business

The French fashion brand will close its stores in Hungary after 20 years.

Charles Vögele leaves Hungary



hvg.hu
Economy

The clothing store will close all its stores in Hungary at the end of August.