25% businesses will permanently shut by end of this FY: FHRAI

The Federation of Hotel & Restaurant Associations of India (FHRAI) has stated that nearly 25% of businesses will permanently shut down before the end of this financial year. “The industry anticipates poor business for at least another year. Until then, it needs working capital. If we are allowed to wind up, rebuilding it will prove to be an even bigger challenge,” says Gurbaxish Singh Kohli, its VP.