Penneys owner to take €415m sales hit from latest Covid closures

ABF said all Penneys and Primark stores in Ireland, France, Belgium, Wales, Catalonia in Spain and Slovenia are already temporarily closed, representing 19% of selling space

Penneys on Mary Street. File picture: Sam Boal/Rollingnews.ie

The owner of Penneys has said it will take a £375m (€415m) hit from the loss of sales amid the latest enforced closures in the face of Covid-19.

Associated British Foods said around 57% of selling space in its Penneys and Primark stores will be temporarily closed if the UK Government approves plans to shut non-essential shops for a month from Thursday November 5.