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On 20 November 2020, Greece overtook China in terms of the number of confirmed cases of COVID-19. The country reached 100,000 cases on 27 November. The country reached 100,000 cases on 27 November. On 14 December 2020, shops (utilizing the click away method) [ 13 ] as well as hairdressers and other facilities were allowed to open, while schools ...
20 October 2009 – Greece's budget deficit is expected to reach ~12.5% of GDP, according to disclosure by George Papaconstantinou, finance minister in Greece's new PASOK government (Cabinet of George Papandreou). [5] This deficit exceeds a threshold of 3% of GDP which was set in the Stability and Growth Pact for all eurozone member states.
After struggling to maintain business levels at its brand names Karstadt and KaDeWe, Arcandor sought help from the German government, and then filed for insolvency. Hypo Real Estate: Germany: 5 October 2009: Banking: Depfa, one of the companies subsidiaries ran into liquidity problems in 2008 as a result of the financial crisis.
Victoria's Secret announced a closure of 333 stores: 30 in 2018, 53 in 2019, and 250 in 2020, up from the previous average of 15 per year. [327] These combined closures amount to about 29% of the brand's stores. The parent company divested itself of La Senza in January 2019, which was further affected [broken anchor] by the retail apocalypse. [328]
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Since 2017, the phrase is frequently applied to brick-and-mortar closures in retail, with the retail apocalypse creating a domino effect on manufacturers and suppliers; Hasbro, for example, cited the loss of the Toys "R" Us chain as a major cause for lost revenue and layoffs the company imposed in October 2018. [20]
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...