Please Save Mauritius Retail Sector!

Please Save Mauritius Retail Sector!

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At 2,500 signatures, this petition is more likely to get picked up by local news!
Mauritius Retail Sector started this petition to Government of Mauritius and

With the present ongoing lock down, all non-essential retail stores, which are the vast majority of the Mauritian retail sector, were all compelled to cease all their trading activities. Nevertheless, even with no revenues, other stakeholders are still trying to execute the agreement as if it was “business as usual”.  This includes items such as:

  • payment of capital and interests on all the different loans
  • commercial rents,

The challenge is each retailer entered separately agreements where the retailers gave unilateral warranties in the form of bank guarantees, personal guarantee, deposits, liens fixed and floating on their assets to ensure that the said contracts can be fully executed, and that under in any circumstances. The retail sector, despite employing collectively close to 100,000 people (Census 2017 Statistics Mauritus), has little bargaining power against banks and landlords. Even with a Pandemic like the COVID 19 and total lock down, these players can and ARE ENFORCING these agreements in full force.  This can and will precipitate the whole industry in chaos with liquidity & cash flow crisis,  employees dismissal and even bankruptcy. The effect on the economy at large will be catastrophic without the prompt intervention of the Government. A pandemic like COVID-19 could not be foreseen and as such it should not be treated as a normal business event. So, during the lock down period, it seems only fair that COVID 19 is  treated as a "cas de force majeure":

  1. commercial rents should not be due, especially when there is no revenues and that access to rented premises are denied and capital and,
  2. interests & capital repayments should be frozen without any penalties until business gets back to normal.

The whole retail sector of Mauritius, through this petition, including cashiers, shop attendants, middle management, managers, and owners is urging the Government  to step in and save the retail industry of Mauritius.

 

0 have signed. Let’s get to 2,500!
At 2,500 signatures, this petition is more likely to get picked up by local news!