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In the wake of the novel coronavirus (Covid-19) outbreak, Future Lifestyle Fashions Ltd has temporarily shut down most of its fashion retail stores (Central, Brand Factory, aLL and other exclusive brands).
The shutdown is per advisory issued by the respective local authorities and State governments, it said in a statement.
In view of the uncertainty created globally by this pandemic, the business of the company is adversely affected by the temporary shutdown of stores, fall in revenue, drops in footfalls and discretionary spending by the customer, it said.
As of now, the impact of Covid-19 is “hard” to ascertain, it added.
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