Primark furloughs 68,000 staff as it goes from £650million sales a month to £0

PRIMARK has been forced to furlough 68,000 workers across Europe, as the budget fashion chain revealed its monthly sales have dropped from £650million to zero.

Without support from furlough schemes across several European countries, these employees would have likely been made redundant, parent company Associated British Foods (ABF) admitted today.

⚠️ Read our coronavirus live blog for the latest news & updates

It comes after the coronavirus epidemic caused Primark to temporarily close 376 stores across Europe, including 189 branches in the UK.

Because it has no online operation, monthly sales from the clothing retailer have plunged from £650million to zero.

Parent group ABF said it had taken a £284million hit from writing down the value of Primark stock it can no longer sell at present.

But finance boss John Bason added that the firm was "clearing the decks" so it could emerge stronger from the crisis.

In an attempt to conserve cash, ABF has scrapped its interim dividend, while executive directors have taken a 50 per cent temporary pay cut and non-executive directors a 25 per cent cut.

ABF also owns food brands including Twinings tea, Blue Dragon sauces and Ovaltine.

Primark revealed on Monday it had agreed to pay an additional £370 million to suppliers to cover stock currently in production or yet to be delivered.

The fashion chain said the deal will cover products which were in production or due for shipment by April 17.

It had previously committed to pay for orders which were in transit or booked for delivery by March 18.

We've rounded up the shops that have reopened websites to offer deliveries including Next, River Island and Dunelm.

B&Q has just reopened 14 stores but some will temporarily stop offering click and collect.

Here’s which other DIY retailers are currently open.