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Libra traders above the cliff!  Most of them are within a month of bankruptcy

Libra traders above the cliff! Most of them are within a month of bankruptcy

According to the Chamber of Commerce, the impact of the pandemic is already being felt, and if measures don’t dissipate soon, they are likely to be worse. “The number of intermittent professions is increasing, self-employed people are getting a job, and companies are starting to do business in other areas, for example,” said Karina Kobelkova, a senior analyst at the Chamber of Commerce.

Restaurants and hotels

According to the Association of Hotels and Restaurants of the Czech Republic (AHR CR), if restaurants and hotels do not open by the end of May, there is a risk of bankruptcy of up to 40 percent of them.

“The pullback is dramatic. The worst part is that we don’t know when we’ll open our doors if no one limits our capacity to 25 percent,” explained Vaclav Starik of AHR CR.

“In order to be able to survive at least in a very tight system, we had to cut the electricity off, because we had no income,” said pub owner Dominik Žitný.

“I think it is possible that we will have problems at the end of the year. The situation will start to be really exciting for us,” said Olympic Hotel manager Vlastislav Uos.


“Unfortunately, state compensation is not helping them either. We know from surveys that state compensation will cover only 20 percent of costs and the rest for fitness centers.

Indoor fitness centers and sports fields have been closed since October, and according to their operators, most are facing existential problems.

“We are losing revenue from the most productive months,” said fitness center owner Pavel Přeček. “We can continue until the end of May this year, so it probably won’t work.”
According to representatives of gyms, a third of the operators will last for about a month. About 40 percent of operators are said to be able to shut down for more than three months.

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Dry sinks and cleaners

Dry laundries and cleaners, which have lost most of their customers to the epidemic, are also having problems. “Most of our members have been hit hard by the downturn,” said Jana Puškáčová of the Laundries and Dry Cleaners Association.

“Laundries are now only fed by hospitals and pension facilities,” Miroslav Malina, managing director of the laundry, said. “The drop in demands is huge and we try to close the gap every month.”

Conferences and exhibitions

Agencies that organize conferences, for example, are also having trouble. In addition to financial losses, they are mainly concerned about losing employees who, due to a lack of work, move to other areas.

“Financial difficulties are a common occurrence in our field. The other thing is that the professionals return to the field as soon as it starts to open up,” said Vit Rosenal of the Czech Juvenile Association (CEA).

According to government dismantling packages, enterprises can reopen by the end of May. But it will depend on the epidemic situation.