In Moscow, due to repairs carried out by the authorities in the city center, the revenue of retailers whose stores were in the repair zone decreased by 15-20%, RBC reports.
The My Street program, which takes place in Moscow from May to August, involves repairing the pavement on the streets, many of which are located within the Garden Ring. Entrance to some stores that were in the repair area was blocked for visitors. According to 2 GIS, there are about 700 restaurants and shops on the repaired streets. Due to the limited access to buildings on central streets, the difficulty in parking, retailers note a significant decrease in traffic in their retail outlets. Moreover, not all landlords enter their situation - someone is ready to provide a discount on rental space for the repair period, but not all.
According to some representatives of the retail business, repair work, which will last until the end of August, may even lead to the closure of some stores.