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DUBLIN – Fast fashion retailer Primark has revealed that its commitment to ensure workers were paid for the orders which it cancelled or delayed, because of the coronavirus pandemic, has so far cost it £10 million (US$12.4 million).
And the company has further disclosed that its subsequent pledge to accept delivery of all orders that were planned for handover by 17th April has left it with twice its normal levels of stock.
A Primark statement said: “At the start of the re-opening of stores, Primark had £1.5 billion (US$1.9bn) of stock on hand, and had also made commitment to our suppliers for a further £0.4 billion (US$0.5bn) of stock. This compares to a typical stockholding of £0.9 billion (US$1.1bn).
