Wave of bankruptcies may occur in German tourism and hospitality

By: Trademagazin editor Date: 2020. 09. 09. 10:35

Since World War II, the biggest loss of revenue could occur and a wave of bankruptcies could begin in the German tourism and hospitality industry, according to data from the national interest group for the sector (Dehoga).

The organization explains that during the worst period of the pandemic in the sector, April, more than a million workers had to be converted to part-time work, and in March-August, revenue fell by almost 60 percent, compared to a year before. (MTI)