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15 percent of restaurants, cafes in Bulgaria have gone bankrupt amid Covid-19 crisis

published on 4/16/20 11:25 AM

Photo: BGNES

Bulgaria's restaurant owners demand that in the 60/40 state support for businesses the criterion of no budgetary obligations should be removed. Thus, the scheme would be more applicable to small businesses. Currently, less than 10% of firms in the restaurant and hotel sector have benefited from this scheme aimed at maintaining employment in light of the Covid-19 crisis.

According to Richard Alibegov, chairman of the Bulgarian Association of Catering Establishments, most of the small and medium-sized businesses carry some obligations with them. The association forecasts that the sector will see 50% of bankruptcies by the end of the year, as currently bankruptcies are around 15%.

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Radio Bulgaria News Up-to-date information 60/40 scheme Covid-19 crisis hotels restaurants

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