The health crisis the country is going through is hurting a number of businesses. Etam is one of them. The ready-to-wear and lingerie group, which has had to close all its stores since the containment set up on March 17, is facing a shortfall.
To limit his losses, he asked the state for help in no longer paying the rents of the closed shops. This is the proposal made by Laurent Milchior, co-manager of the Etam group, interviewed on Wednesday by BFM Business.
An estimated cost between 100 and 150 million euros excluding rents
The current crisis will cost the group "between 100 and 150 million euros" in cash, excluding rents, said Laurent Milchior first. However, the responsible nuance: Etam "started the year with 20 million debt, so very little debt". But for him, "the landscape will change drastically" if the rents must continue to be paid.
"The State must participate, by a tax credit, over the period of full closure (complete closure of stores, editor's note) so that we do not have to pay rent," submits Laurent Milchior. When things are better, the manager believes that the rents may again be demanded in full. "There must be a rise in rent regime after the crisis, which goes with the rise in turnover", he says, asking that "this part can be paid more late, be smoothed over time ”.
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