16th Apr 2020 09:51
(Alliance News) - Homewares retailer Dunelm Group PLC on Thursday said its online offering is operational again after a temporary closure due to the Covid-19 outbreak.
The FTSE 250 firm's bricks and mortar stores, however, remain subject to a UK government lockdown and are closed.
Dunelm said: "After a phased restart of our online business, we are now fully operational, with the exception of some two-man delivery products, which we anticipate will begin next week once we finalise a safe and workable delivery solution. We have been able to satisfy a high level of online customer demand, with recent online order levels significantly higher than those seen prior to the onset of Coronavirus."
A majority of the company's in-store staff have been furloughed under the UK government's job retention scheme.
Dunelm has received confirmation that it is eligible to receive funding under the Bank of England's Covid corporate financing facility.
"The board is confident that the group has access to sufficient liquidity, even in the event of a prolonged store closure period. Currently, we would only anticipate the need to issue paper under the CCFF scheme in the event that our stores remain closed for a period greater than six months," Dunelm said.
Dunelm's Chief Executive Officer Nick Wilkinson has taken a 90% pay cut, with the company's chair and non-executive directors waiving 100% of their fees.
"These reductions will be in effect for the three months from April to June," the company said.
Dunelm shares were 2.5% higher at 845.75 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Dunelm