Mexico’s “Maquila” Industry face losses amid shutdowns

MEXICO CITY — According to wwd.com, Mexico’s fashion retailers and apparel factories are facing steep losses as the government orders the country to shut down for more than a month to contain the coronavirus and store lootings spike.

“We are seeing many global retailers close and forced closures in some regions including Mexico State, where we had to shut our Townsquare mall in Metepec,” said Jaime Fasja, founder and co-chief executive officer of Thor Urbana Capital, who said its plans to build a string of malls, hotels and entertainment centers are so far proceeding on schedule despite the disruptions.

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