Shopping malls, multiplexes and top retailers in Pune are seeing as much as a 70 per cent drop in business owing to the swine flu outbreak in the city.
The Business Standard reports 10 multiplexes and 20 movie halls in Pune are expected to suffer losses for a week since they have shut shop on government orders. Though only two malls out of 15 have downed shutters, those that are open are also seeing a sharp decline in footfalls
“Even before the directive was announced, our occupancy had dipped 25 to 30 per cent. On an average, our daily collection is close to Rs 2 lakh and we are expecting our damages to amount to Rs 1.25 lakh per day owing to the shutdown,” said Rishikesh Chaphalkar, partner, City Pride, which has two multiplexes in Pune.
“There is a impact on our sales in Pune, but it is premature to say that it is due to swine flu. It could be that shoppers are waiting for a big sale that is starting from tomorrow,” said Atul Takle, head of corporate communications at Pantaloon Retail, which runs Big Bazaar and Central in Pune. Big Bazaar is running its five-day Mahabachat sale from August 12.
Others declined to share numbers on ethical grounds. “It would be most inappropriate for us to comment on potential losses as public health comes first and we must all be supportive of attempts to safeguard it,” said Alok Tandon, chief executive of Inox Leisure Ltd, which runs mutiplexes in Pune and Mumbai, among other cities.
Malls in Pune are also battling tough times. “The numbers have fallen a whopping 50 to 60 per cent,” admitted Sanjay Kakade, owner of Kakade Centre Port and SGS Magnum mall in Pune.
Tags: Commercial property in Pune, Pantaloon Retail, Pune malls, swine flu India
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