Penneys owner warns of major losses in the business
Limerick's Live 95 Search By Ellen Smith The owner of Penneys has warned of major losses to the business due to the COVID-19 lockdowns. Associated British Foods, who owns Penneys in Ireland and Primark in the UK, is warning that the company could see losses hitting €1.2bn if its stores are forced to remain closed due to the pandemic. According to the Independent, the company originally predicted losses of £650 million, which has since increased due to the latest restrictions. The stores that are currently closed account for 76pc of the company's ret...
Source: live95fm.ie