“We worked so hard for everything and just to have it pulled out from underneath you through no fault of your own … [My wife and I] had plans to travel and do something in our twilight years, but we’ve gone through all our savings and are pretty heavily in debt,” said Wiseheart.
Having laid off all seven employees and returned most of his vehicles, Wiseheart is trying to keep up lease payments on two vans in the hope that business might pick up again around Easter. “It’ll be hard for us to get out of this mess, but I think we will,” he said.
Governments across Europe reimposed lockdowns over December to respond to spikes in coronavirus cases and deaths, capping a year that plunged the global economy into its biggest peacetime contraction since the Great Depression. Restrictions have been tightened in some places in the past two months with increasingly severe consequences for workers and businesses.
In the United Kingdom, the number of people claiming unemployment benefits, including those working on a low income, more than doubled to 2.6 million between March and December, according to the Office for National Statistics.
She dipped into her savings to cover living expenses, including rent, in the hope that the situation would improve. “In August they brought me back to work and I found a little light of hope that we would get through the pandemic safely.”
Ditz had resigned from a well paid job as a tailor at Hugo Boss in the summer of 2019 to move back home to Ingolstadt and be closer to family. The job at Bäumler, where her grandfather had worked, was a dream come true. “I remember that I [had] said to my new colleagues that I don’t trust this all because it’s too good to be true. And I was right,” she told CNN Business.
By October, the 86-year old firm had filed for bankruptcy, joining a growing list of retail casualties triggered by the…
Go to the news source: Europeans are losing jobs and businesses as the pandemic takes its toll