24th Mar 2020 12:17
(Alliance News) - Convenience store firm McColl's Retail Group PLC stressed on Tuesday it is financially solid with all stores remaining open.
McColl's said demand is currently strong due to the Covid-19 crisis, and measures have been put in place to ensure it can meet this.
The Brentwood-based firm said lending banks are supportive, and as announced in late February banking facilities have been amended and extended to May 2022.
Despite the high demand from customers, McColl's is still taking measures to preserve cash and maximise liquidity.
Chief Executive Jonathan Miller also said: "The health, safety and wellbeing of our colleagues and customers is of paramount importance to us and informs all that we do.
"I would like to thank all of our colleagues who are working incredibly hard to keep the neighbourhood communities we serve supplied with the food, goods and services they need on a daily basis. Given the situation, we urge our customers - over half of whom live within just 400 metres of our stores - to buy only what they need and to help the elderly and vulnerable with their shopping needs if they are able to do so."
The shares were 13% higher on Tuesday in London at midday at 24.78 pence each.
By George Collard; [email protected]
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