Over 1 in 3 firms risk closure due to COVID-19 - ISTAT

Over 60% of hotels and restaurants in danger says stats agency

(ANSA) - ROME, JUL 7 - Over one in three firms in Italy risk going to the wall due to the effects of the coronavirus emergency, ISTAT said on Tuesday.
    "The impact of the crisis on businesses was extraordinarily intense and rapid," the national statistics agency said in a report on firms with more than three employees, "determining serious risks for the survival of 38.8% of Italian companies (accounting for 28.8% of employment, around 3.6 million employees)".
    It said the risk was greatest for 'micro' companies (with 40.6% at risk of closing) followed by smalls ones (33.5%).
    But it added that there were significant risks for medium-sized firms (22.4%) and big ones (18.8%) too.
    The agency said that over 60% of Italy's hotels and restaurants risk folding within a year due to the effects of the emergency, endangering 800,000 jobs. (ANSA).


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