Three out of ten durables retailers could soon go out of business

0:58 min

A survey by the Swedish Trade Federation shows that retailers of consumer durables are facing dark days ahead, with many saying they will be out of business within months.

The Swedish Trade Federation, which represents retail companies, says three out of ten sellers of consumer durables - that is products that consumers don't buy on a daily basis - could go out of business in the next two months. The Federation has carried out a survey of 900 of its members to investigate the effects of the corona crisis on the industry, and several of those asked said they could be out of business within one month. Every second company asked said they had lost 40 per cent of their trade, and some put the figure closer to 80 percent.