Luxury Sofitel Resort in Agadir Shuts Down Amid Tourism Crisis, Staff Layoffs
11 May 2020
The luxury hotel, the Sofitel Agadir Royal Bay Resort, would have closed down, after having released all of its staff.
Bankruptcy
Moroccan Business Owner in Paris Fears Bankruptcy Amid Tourism Slump
7 May 2020
Ahmed Yiab, owner of four establishments in Paris, fears bankruptcy. He has the same premonition regarding his establishment, the hotel-restaurant Le Mazagan, located in (…)
COVID-19 Devastates Moroccan Economy: Over 130,000 Businesses Close, 800,000 Jobs Lost
17 April 2020
They are 131,955 Moroccan companies, out of a total of 216,000, that are closing their doors due to the adverse effects of the coronavirus pandemic. The information comes from (…)
COVID-19 Halts Passenger Traffic, Cripples Shipping in Strait of Gibraltar
14 April 2020
Passenger traffic between southern Spain and Morocco is prohibited and freight traffic is proving unprofitable. This is causing heavy losses for shipping companies in the (…)
Royal Air Maroc Cuts Staff Salaries 30% Amid Global Flight Suspensions
9 April 2020
Royal Air Maroc is suffering greatly from the immobilization of its aircraft, since the Moroccan government decided to suspend all air links with the international community.
Moroccan Small Businesses Hit Hard: Trade and Services Lead COVID-19 Economic Impact
9 April 2020
A survey conducted by the Moroccan Confederation of VSEs-SMEs revealed that the two sectors most affected by the pandemic are business services and trade. They top the ranking (…)
Morocco’s Economic Woes Deepen as 9,000 Companies Face Bankruptcy in 2023
29 February 2020
The number of bankrupt companies in Morocco remains worrying, despite a slight slowdown. In total, 9,000 companies are expected to close down.
Coronavirus Disrupts China-Morocco Trade, Impacting Local Markets and Prices
26 February 2020
The Coronavirus epidemic is also leaving economic consequences in its wake, slowing down the imports of Chinese products. Merchants in the wholesale markets of Derb Omar, (…)
Morocco Sees 5% Rise in Business Bankruptcies, Economic Challenges Persist
23 January 2020
Business failures increased in 2019, with 8,439 bankruptcies, an increase of 5%. Euler Hermès is pessimistic for 2020.
Morocco’s 2M TV Channel Faces Financial Crisis Amid Management Woes
27 November 2019
The 2nd national television channel has accumulated a financial deficit estimated at 750 million dirhams. Deprived of the right to broadcast on the Nilesat satellite, the (…)