Many furniture companies, including Aarons, Herman Miller and QuMei, suffered great depreciation in the exchanges where they are traded.
While the world is trying to cope with the corona virus epidemic, the economic dimension of the situation is getting worse day by day. Aarons, one of the largest furniture sellers in the world, has lost 68 percent value in the New York stock market since January 1. Bed Bath & Beyond, one of the most important furniture makers in America, has lost 66 percent, Bassett Furniture has 62 percent, and Hooker has 48 percent. German Herman Miller was 36% on NASDAQ, and Chinese QuMei were other companies on the Shanghai stock market, falling 16%. It is stated that while there is a disruption in production due to the social isolation and quarantine measures taken in China, USA, Italy, Germany and France, which are among the top 5 in the world furniture production; the negativities that may occur in the following days in Japan, Canada and England pose a great risk for furniture companies.
Mission Furniture Board Chairman Erhan Şahin,
for the industry in Turkey too the employment not to be interrupted and to avoid victimization our need a crisis plan He stressed.
'Steps should be taken to protect the manufacturer'
In this difficult process, the state, with economic supports to manufacturer should support. Erhan Şahin stated, 'In Turkey at present enough to stop production, with a serious condition even though we don't meet we need to be prepared. in The world's luxury furniture featured country; in Italy; Unfortunately not manufacturer; even human life that you, have helplessness to be protected we are witnessing. At this point, USA and China, to furniture manufacturer, for protection is taking steps. In our country, too for the employment not to be interrupted and no victimization; for to the crisis plan we need'' used expressions.
'with Outbreaks, for sustainable struggle economic welfare is essential
'Economic prosperity is essential for the sustainable fight against the epidemic' Stating that economic power is extremely important to combat epidemic diseases, Şahin continued his statements as follows: 'In order to combat the coronavirus epidemic, firstly social consciousness and then economic power is needed. Today China, Germany and South Korea can cope with the coronavirus outbreak with low mortality rates, while in Italy and Iran we see that the situation is not heartwarming. In case Turkey's possible spread of the outbreak; the commissioning of economic measures olso will guarantee the existence of domestic companies. The loss of value experienced by the leading furniture companies in the world was the basis that explained this situation in the clearest way. In a similar situation, it is a fact that Turkish companies, especially small and medium furniture makers, will suffer greatly.
Furniture News Center
News Author : Erbay ŞAHİN
600 viewed times. / 26-03-2020 added.
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