BELGIUM IS FACING A FLOW OF BANKRUPTCIES

The Comeos Federation of Trade and Services in Belgium has turned to the authorities with a public appeal on the urgent need to lift a number of previously adopted restrictive measures against the COVID-19 pandemic. Closed trade outlets and enterprises threaten to plunge the country into a flow of bankruptcies from which Belgium will not be able to recover quickly.

The reason for the sharp reaction of the Comeos leadership to the policy of the Belgian government was the recent message from neighboring France about the intention of the authorities to open stores next Saturday. If this happens, said the CEO of the federation Dominique Michel, and the Belgian government does not lift the ban on the operation of outlets until Saturday, then the country risks turning from an "island of closed stores" into an "island of bankrupt shops."

According to the head of Comeos, in this case, the money of the inhabitants of Belgium will float abroad - to the Netherlands, Germany, France and Luxembourg, where all stores are open and continue to serve customers.

According to statistics presented by the CEO of Comeos, every third family in Belgium travels abroad for shopping at least nine times a year. Thus, about € 1 billion is withdrawn from the country annually.

As we know, the peak of sales falls on Christmas holidays. This year, due to the pandemic, Belgians will be massively forced to go and buy gifts in the neighboring countries, while local entrepreneurs will be going bankrupt.

The Comeos Federation represents 18 sectors of the Belgian economy, contributing to the country's budget about 11.2% of GDP.

The enterprises of the market sectors belonging to the Federation of Trade and Services employ about 400 thousand people. The head of the federation noted that the decision to open retail counters should be dictated not by the position of virologists, but by a rational choice to ensure the future of the Belgian business, maintaining the ability to comply with safety standards when shopping.