Czech Chamber of Commerce and sellers warn of net loss of around four billion crowns

24-10-2016

The Czech Confederation of Commerce and Tourism, the Czech Chamber of Commerce, and Atrium Czech Real Estate Management (managing the Flora shopping centre in Prague) held a joint-press conference on Monday warning that legislation passed this year – forcing large retailers to close their doors on seven state holidays – will lead to a net loss in revenues of around four billion crowns across the Czech Republic. Additionally, the grouping warned that the new law would lead to job losses, not just among cashiers or sellers but also cleaners and security. By contrast, the bill had support from the unions as it would allow employees in the service sector time off. October 28 is one of seven state holidays when large retail stores will not be allowed to sell products.