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Businesses stare at losses during weekend curfew in Bengaluru

Many sectors which were witnessing recovery of late, will take hit

Published: 07th January 2022 06:45 AM  |   Last Updated: 07th January 2022 03:41 PM   |  A+A-

Hotels willfunction at 50% occupancy due to the surge in Covid-19 |Ashishkrishna HP

Express News Service

BENGALURU: Many business sectors are unsure about their prospects after the fresh weekend curfew, specially after having incurred losses due to the New Year’s eve restrictions. Restrictions have been imposed on restaurants, cinemas, shopping complexes as well as other sectors amidst a surge of cases in Bengaluru.

K V Chandrashekhar, president of the Karnataka Film Distributors’ Association said, “Producers foresee revenue losses and have refused to release movies.” He said that most cinemas will shut down despite being allowed to operate at 50% capacity, since they have nothing to screen. “At the most, it’s two to three days of revenue a week, as we aren’t allowed to operate on weekends and footfall is already reduced due to the pandemic,” he added.

“Business is down by almost 75% and it’s worse than last year,” said Madhukar M Shetty, secretary of the Karnataka State Hotels Association. “We have to issue huge refunds as well as cancel celebrations and events we had paid advances for,” he said. In addition, businesses are also worried about how the lockdowns will affect workers.

“The biggest thing we’re worried about is how to pay salaries when there is barely any revenue generated,” said Mukesh Kumar, chairman of Shopping Complexes Association of India (SCAI). He said that the lockdown was detrimental for malls and shopping complexes since 40% of business comes during the weekends.

Shiva Kumar, secretary of the Peenya Industries Association, said that industries were planning on working in shifts as they had been directed to work at 50% capacity.



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