A third of the shops in the center of Funchal closed their doors

Tobi Hughes·
Madeira News

The evaluation will only be made at the end of the year, but the Commercial and Industrial Association of Funchal offers a perspective. “One third of the stores in the center of Funchal have closed their doors”.

ACIF says that the more the support, the less the stores are forced into insolvency. For this reason, the association asks entrepreneurs to apply for new announced support. 

The Regional Government guarantees, in turn, that open applications for Si-Financing are open.

A reality that ACIF says it is attentive to and supports entrepreneurs.

From RTP Madeira

I believe the main problem here is they talk about support here, there, but nothing comes to the table. 

Statements on the day Rodrigo Gouveia took office at the head of the local trade section for the next three years.

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Tobi Hughes

15 Responses

  1. This is so sad, it’s the same in our small town. I’m afraid on line shopping is killing our local shops here. Towns are going to be ghost towns unless we support them when we can.

  2. As much as it hurts for everyone who works in shops and for people who like to go to the shops to buy there things, the reality is that people are now buying their stuff online. This has been happening long before this pandemic and I think this will continue to happen for years to come.

      1. Tobi, have no fear, as of next Monday my wife will be back in Madeira, where she is known as the Patron Saint of the Poor Shoe Sellers of Funchal.

  3. Everything evolves to survive, the pandemic is just quickening it.
    Its the spin offs that are the worry, job loses, rate losses, empty shopping spaces, property values declining, warehouses that are enormous but holding other companies goods without paying for them until after sold. Delivery vans creating huge volumes of air pollution, on and on and on.

    1. Yes it will be sad to see all the empty spaces again, after Madeira was doing so well and most places had opened up. Property prices are definitely not in decline here though, they are going up and up, so is rental prices.

  4. It will come Toby, the law of supply and demand dictates empty property drives down capital gain and rental prices. As sure as night follows day.
    Most of what you see now being carried out was planned and financed some time back and Im not talking months, in some cases years.

  5. Strange things happening this year, reading the comments on here I do understand why people are confused, earlier this year I stated (to friends) the obvious, that property prices would obviously go down as people were losing their jobs, no chance, in the UK they are going up, which doesn’t make sense, I also stated that major office based institutions would not force all of their staff that are working from home to come back to work as it would be cheaper to have them working from home. The next problem for office workers whether they be at home or in the office is major institutions will redeploy their jobs overseas to cheaper alternatives, as highlighted in the UK Financial Times last week, this is not a new idea but I think it will become more commonplace now as cutbacks are made across the whole office sector.

    Kind Regards
    John C London (2nd day of 5 week holiday in Madeira)

    1. “property prices….in the UK they are going up, which doesn’t make sense” – UK house prices up because of stamp duty holiday (until 31/3/20), interest rate cut to 0.1% (MPC special meeting 19/3), and demand outstripping supply.

  6. Yes strange times ahead, but all that huge commercial space from bust companies will change our traditional shopping centres particularly if parts of these companies are only bought for their access to internet shopping.
    Look what has happened to one of our major commercial shopping centre owners.
    Hope for best and plan for worst!!!! Is best approach me thinks.

  7. Very Bad news , i Loved Shopping in Madeira this small loveley Shops , i Never bought something online ,
    And will Not do in the Future !!!!
    The only stabil and upgrowing winner is the DAX …dont Understand ?

  8. It is sad indeed that so many shops,on Madeira were forced to close, just when most businesses where doing so much better.

    In the case of shops on Madeira, I don’t believe online shopping is the culprit here, I say this because, in a lot of cases, it’s not so easy to order products online and have them shipped to Madeira.
    Especially buying cloths online is a problem and only possible to a limited extent and one often has to count on long delivery times, not to mention the effort and time it takes to return products if they are, for what ever reason, not in order. Ordering products from shops such as Amazon is usually possible, but here too, it often takes a long time for the products to arrive.

    I believe that, unfortunately, the main culprit here is, just like for the hotels and restaurants, Covid.
    We all know that a large number of our local population has lost their jobs, they can’t go shopping, they struggle to survive and for those who haven’t lost their jobs, shopping is definitely no fun right now.

  9. hello. I am due to take a holiday in Funchal late January.,booked last february ) I love visiting the health food shop’s downstairs cafe. Is that business now closed? maybe called “Bioforma?..” yours, John

  10. Bring your euros, spend, spend, spend and try and push them around a bit John. A little bit here and there, won’t make millioniar’s out of locals but may help them both business wise and mental health wise, lift up their spirits and see a future by staying open and focused.

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