JAKARTA - PT Eastparc Hotel Tbk (EAST) has difficulties in paying its short-term obligations, which has a total value of Rp 22.94 billion, due to the COVID-19 pandemic.
Muhammad Anis, Director of PT Eastparc Hotel Tbk (EAST) said that the company's hotels do not have any guests since COVID-19 declared as a national pandemic. This caused the company's revenue to fell by 25%.
This condition, he said, forced the company to cut salaries and lay off employees, with 128 employees being cut or have their salaries cut. (LK/AR)