30th Mar 2016 06:48
LONDON (Alliance News) - Hornby PLC on Wednesday said lender Barclays Bank PLC has agreed to waive the covenant tests on the hobby products company for March.
Hornby, the model railways and toy cars retailer, said in February there was a risk the company could breach its lending covenants in March. Barclays has now waived those covenant tests.
Hornby added that trading remains in line with its expectations, with sales in the half to the end of March down 2.0% year-on-year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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