One In Four German Breweries Fear Insolvency - Poll

BERLIN (UrduPoint News / Sputnik - 14th April, 2021) One in four breweries in Germany say they are at risk of becoming insolvent because of the pandemic, according to a poll by the German Brewers' Federation.

The association has estimated the drop in beer sales between January and March at an average of 33 percent.

"The German brewing industry has not experienced a drop of this proportion since the end of World War Two," Holger Eichele, the head of the brewers' federation, said.

He said that nearly six months of lockdown had collapsed the catering business and dealt a severe blow to exports, while the economy showed no sign of recuperating.

The survey found that almost 88 percent of brewery owners viewed the impact of the pandemic on their business as very strong or relatively strong. More than 85 percent said they had to resort to worktime cuts, while 32 percent had to lay off staff.