11th Nov 2020 11:15
(Alliance News) - Marston's PLC on Wednesday asked holders of its secured class A debt notes for technical waivers for the first half of 2021.
The Wolverhampton, England-based brewery, pub and hotel operator said the waivers would be a precautionary measure following the renewed lockdown restrictions introduced in the UK.
Marston's said: "The waivers being requested are required solely as a consequence of the enforced temporary re-closure of its pubs in England by the UK government as a result of the Covid-19 pandemic measures, together with the continued uncertainty with regard to further potential lockdowns over the winter months."
Marston's ensured shareholders of the strength of its liquidity position however.
Marston's said that, given the prevailing uncertain outlook, it needs to maintain a maximum amount of financial flexibility over the coming months.
Marston's shares were up 3.5% at 66.58 pence each in London on Wednesday morning.
By Greg Roxburgh; [email protected]
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