In Germany, the role and fashion and apparel institutions sector called on the federal government for more support to address the repercussions of the emerging Corona pandemic crisis.
Against the background of the closure of many stores, in the framework of anti-Corona measures, a letter signed by 13 institutions in this sector stated: “The current closure of the German fashion sector seriously threatens this commercial and industrial field.”
The letter explained that the current aid, in the form of loans from the German Development Bank (KFW), "will not arrive, or will be, late for many companies."
The signatories of the letter called for a protection umbrella that provides financial liquidity to companies in this sector, calling on the government to establish a support fund worth 850 million euros for the 30 most prominent fashion companies in Germany. "With this government assistance, the supply of goods will be secured and liquidity will be provided in the sector for a period of 180 days," the letter said.