Bulgarian Business Reports Huge Losses over Polar Cold

Business | February 4, 2012, Saturday // 19:47|  views

Several Bulgarian business sectors such as retail, construction, and industry, have suffered losses worth BGN millions over the freezing temperatures. File photo

The business in Bulgaria has registered losses of BGN millions over the unusual polar cold that gripped the country last week.

The information was reported Saturday by the largest TV channel bTV, saying that the most affected are the construction sector and retail trade.

Many companies have announced large losses over increased energy expenses.

Consumption of all types of products is down, affecting negatively manufacturers, suppliers, and retailers.

Companies have also suffered from many workers being out sick, reducing work force and increasing sick leave expenses.

Retailers hope to compensate for the losses when the mercury starts going up and people begin shopping more actively, but the industrial sector faces more serious problems over looming fines for delays.

The winners are the heating utilities, the Thermal Power Plants, and the pharmaceutical sector, which registered their highest sales during the coldest days.

The same trend is observed across Europe where in the last two weeks sales of soup are up 20%; the demand for winter coats and booths increased twice, while car mechanics have 4 times more orders over the more frequent traffic accidents.

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Tags: pharmaceutical sector, thermal power plants, heating utilities, cold, millions, losses, industry, construction, retail, business, Bulgarian


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