Luxtram is taking over 50% of losses caused during the construction site period. On Thursday, business owners met with Luxtram to discuss the procedure.
Luxtram president Frank Vansteenkiste explained that affected businesses would be able to submit requests year upon year. If they incurred losses in the previous year, they can send in their annual accounting report to the firm and five to six weeks later, they will be compensated.
The roadworks currently taking place are of an exceptional scale, the firm admitted. But the procedure to compensate retailers must be subject to specific criteria, Vansteenkiste highlighted. He pointed out that taxpayer funds would be transferred to business owners.
On the side of the affected retailers, the consensus is that they are relieved and pleased at the gesture, but believe it is 'by far not enough'.
Restaurant owner Gabriel Boisante, a LSAP councillor for the Luxembourg City municipality, pointed out that businesses have lost between 40 and 80 percent of their revenue.
He doubted whether the measure is enough to save businesses, adding that in his own case as well as those of others, it is far from sufficient. Boisante admitted he is lucky to have other businesses, but hopes he will not have to close down his venture in the Gare neighbourhood.
However, other business owners are despondent and will likely have to declare bankruptcy at the end of the year.
Business owners are generally demanding that the work on the tram network take place over two shifts, to speed up the work and finish the construction. They have also praised the fact that work will not stop over the collective leave period, a decision that will certainly accelerate progress on construction.
