The German government have come to the rescue of Adidas, negotiating a loan of 2.4 billion euros which will be financed by public bank KfW Germany.
Adidas manufacture shirts for big clubs such as Real Madrid and Manchester United, and they have stated that due to the coronavirus pandemic and the stoppage of business, they are unable to pay the rent for their stores in the month of April.
According to El Pais, "Adidas will receive 600 million euros from other financial organisations in order to resist the crisis."
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Piulpsty
0
I don't know the details of this bailout but really hoping it goes to the employees and necessary costs for the business to be able to survive afterwards and retain its jobs. Probably still gonna see the top people get way more then they need cus that's how it always goes.
laeabeilmu
0
corporate welfare is wrong. It makes the problem worse. Small business help is beneficial.
Adidas is German bavarian business important industry for Germany for many years
Tataiostz
1
corporate welfare is wrong. It makes the problem worse. Small business help is beneficial.
Teuacikmot
3
y they did not save or what
ELLYICON
2
they didn't save