Euler Hermes: what is happening in Hungarian retail?

The non-food category has been hit hard by the changes and constraints associated with the pandemic and global supply chains are being reshaped, giving this part of the sector a very different picture: last year’s 0.4 percent decline compared to 2019 growth of 2019 is a significant turnaround. The largest declines were in clothing, hospitality and fuel trade. As a result, the risk ratings of many retail store chains have deteriorated in Euler Hermes’ rating system, and several retail chains in Hungary will be closed down.