Hennes & Mauritz AB said governments aren’t doing enough to help as three-quarters of the Swedish clothing retailer’s stores remain shut due to the coronavirus pandemic, making job cuts necessary.
Sales fell 46% in local currencies in March, the first month of H&M’s second quarter, which the fast-fashion maker said will be unprofitable.
The company is considering ways to raise debt financing to improve its liquidity as it reduces working hours for tens of thousands of employees.
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