ScS resumes operations amid Covid-19 lockdown

ScS has announced the reopening of 80 stores across England, after temporarily closing operations on 23 March in line with government guidance.  

The decision to reopen was made “after carefully considering recently updated government guidelines and implementing enhanced health and safety policies and procedures, to protect our people and our customers”.  

The furniture retailer, which currently employs 1,700 people, has also reopened its distribution network to enable deliveries to customers.

Whilst its stores and distribution networks in England have resumed operations, 19 sites in Wales and Scotland remain closed, though the retailer “continues to monitor the situation closely and will reopen as soon as possible”.

In its latest trading update, ScS said it has been building a “strong” balance sheet, and continues to review and reduce its cash expenditure in order to “protect its liquidity”. 

The group had previously drawn £12m from its revolving credit facility in March, and currently holds £48.3m in cash. The retailer also continues to evaluate its capital expenditure plans.

In its latest statement, the furniture retailer said: “ Whilst it is too early to provide clarity on the outlook for the weeks and months ahead, the group is pleased to have reached this key milestone.

“ScS is a resilient business, with a strong balance sheet, coupled with a flexible cost base, and is well positioned to navigate this event and return to growth when the economy recovers.”

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