Westfield affected by government Covid-19 measures

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nibail-Rodamco-Westfield (“URW”) has revealed in a market update that it has taken measures to contain the spread of COVID-19 which will impact the Group’s operations.
Both Westfield locations in London are open as usual for now.
// Unibail-Rodamco-Westfield affected by government measures to prevent the spread of Covid-19
// The shopping centre giant is reducing non-staff expenses & deferring non-essential capital expenditure

Unibail-Rodamco-Westfield has revealed in a market update that it has taken measures to contain the spread of Covid-19 which will impact its operations.

The shopping centre giant said its primary focus is on “protecting the health and safety of its employees, tenants, and visitors”.

Westfield added it was “carefully monitoring” the latest health guidelines issued by the World Health Organization, as well as national, regional and local governments and is adapting its operations accordingly.


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At present, local authorities have required all non-essential stores to close in France, Spain, Poland, Austria, the Czech Republic and Slovakia.

Westfield operates two shopping centres in the UK, but has a vast portfolio across mainland Europe – including the aforementioned countries where lockdowns are currently in place as a result of the coronavirus outbreak.

“As such, the group’s shopping centres in these markets are substantially closed,” Westfield stated.

The two Westfield locations in London are open as normal for now, albeit with reduced footfall.

At this stage, the firm said it was “too early to determine the situation’s impact on the contractual obligations of the group’s retailers and other partners or to estimate the effect of any case-by-case support measures the group may decide on.”

Westfield stated it “has started an active dialogue with its tenants on how to address these unprecedented challenges”.

Shopping centre rivals Intu and Hammerson are also suffering at this time.

Hammerson’s market value fell to £1.21 billion last week and Intu posted a £2 billion loss in 2019, placing it on the verge of collapse if it did not secure emergency funding.

Westfield said it was “actively reducing non-staff expenses, deferring non-essential capital expenditure and will make use of any relevant facilities or arrangements provided by the various national authorities to assist companies through the crisis”.

It explained that considering the uncertainty around “this rapidly evolving situation and how long the above preventative measures will need to remain in place, it is not currently possible to estimate the extent of the impact on the group’s earnings”.

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13 COMMENTS

  1. Please close the malls down we’re afraid. why are the malls even open? We’re being used as an experiment buy being forced to go in everyday. 2 weeks wouldnt hurt theres place that are closing for months but these 3 malls remain open and its sad. if i get sick in that mall i will sue because the mall has no business being open. No one is bying anything people kids are just walking around the malls in group’s.

  2. I just don’t understand why they don’t close Westfield already… the staff, who are not all key workers, will likely be at risk.

  3. Please close Westfield! As a colleague and worker I am scared to even come into work but I’m being forced just so I can keep my pay. I think it’s a disgrace that you are putting your workers at risk like this.

  4. Boris, you need to close all malls all retail shops nobody needs or wants to by clothes shoes, you will be known as the killer pm if you don’t do it now, hopefully on the next pm speech today Friday 20th you will close all retail.
    Only supermarkets and chemists should be open,
    And please make the supermarkets give proper protections to there poor staff, checkout people
    They are in contact with thousands of people every day and are equally important to the survival of us all
    NH

  5. I don’t understand why Westfield in Stratford still open. Clothes shops still open because they don’t care much about people live.

  6. Please close Westfields, it is such a risk to workers and others. It doesn’t make sense to close bars etc but leave this huge shopping centre open.

  7. My partner is maintenance staff at Westfield and each time he comes home I’m scared he may have bought COVID-19 home with him. Why can’t they pay for essential workers to stay in a hotel near to work?

  8. Westfield Shepherds Bush is as good as closed… Boots is open, WHSmith is pointlessly open and M&S and Waitrose can be accessed from outside. They should shut WHSMITH it is NOT essential and Boots should too as it has a store in W12 Shopping Centre. Waitrose could open its side door then they could shut the shopping centre.

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