The Adidas and H&M groups have sparked condemnation in Germany by announcing their intention to stop paying their store rents, which were forced to close due to the spread of the Covid-19 epidemic.
German Finance Minister Olaf Schultz called on the two big companies to refrain from taking ill-considered measures.
Schultz told the German newspaper "Bild" "it is very disturbing to see large companies content with the announcement of stopping the payment of rents," calling on the two companies to communicate with the owners to find solutions.
Sports goods company Adidas, which posted a net profit of $ 2.2 billion in 2019, was greatly affected by the collapse of its sales in China and the closure of its stores on a large scale.
The company said it was "temporarily suspending the payment of rents, like many other companies."
As for the Swedish clothing giant, H&M, it announced that it would not pay rents about 460 stores after it had to close them in Germany, explaining to the agency itself that it had informed the shop owners and hoped to reach a "solution acceptable to both parties soon."
The announcements came at a time when the German government unveiled a broad rescue plan aimed at protecting companies and jobs from the economic consequences of the epidemic.