A logo of Adidas company is seen on a building in Minsk, Belarus September 29, 2016. — Reuters pic
Finance Minister Olaf Scholz urged leading companies to refrain from taking rash action that could hurt property owners.daily, urging retailers to reach out to landlords to find solutions.The retailers’ move comes after the German government unveiled a major rescue package to protect companies and jobs from the economic impact of the pandemic.
German sportswear maker Adidas, which made a net profit of nearly €2 billion in 2019, has been hard hit by a slump in Chinese sales and massive store closures. Swedish clothing giant H&M said it too would not be paying rent on its roughly 460 closed stores in Germany, telling DPA that it had informed landlords and hoped to find “a mutually acceptable solution” soon.
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