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Eight cities’ 126 malls hit
The organized retail scene in Indian cities has come to a grinding halt as the respective state governments ordered closure of malls and multiplexes to prevent people congregation.
The top 8 main cities of India have 126 malls sprawling over more than 61 million sq. ft. area, and more than 100 malls have multiplexes attached.
Wherever it has been mandated, there will, therefore, be a high number of establishments that need to shut down for operations, said Anuj Kejriwal, MD & CEO – ANAROCK Retail.
“Even short-term closures will have significant financial implications,” he added.
However, what matters more is that these establishments attract massive footfalls. In a health crisis like the coronavirus pandemic, shutting them down can be a major step forward in terms of harm-prevention, he pointed out. fiinews.com
