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“Over the year the industry will record a decline of 20 to 30%,” Guadalupe told German newspaper Handelsblatt in an interview published on Thursday.
“Consumption has been brought to a complete standstill. It is not yet clear when and what may be reopened. And then there will be the question of how quickly people’s confidence will return,” he added.
Some manufacturers could close down, he added, with cash flow the biggest problem faced by companies.
https://www.reuters.com/article/lvmh-hu ... K1qNZUEAAQ
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