Rumors About Adidas Closing In Lebanon By The End Of The Year
International sportswear brand Adidas has allegedly announced that it will be closing down its stores in Lebanon by the end of 2020 as a result of the dire economic situation and ongoing challenges.
Editorial Purpose: We are sharing this piece of content to keep you in the loop on the latest happenings in the country.
A statement attributed to the company has been making the rounds on social media. You can see it below:
Adidas is not the first multinational corporation to bear the brunt of the current financial crisis. Earlier this year, Coca Cola also shut down its operations in Lebanon due to the trying economic circumstances, which have only deteriorated since then.
We can’t help but think of those who will be losing their jobs amid these difficult times. Will more international companies follow suit?