Card Factory PLC Trading and Liquidity Update (1977X)
April 30 2021 - 01:00AM
UK Regulatory
TIDMCARD
RNS Number : 1977X
Card Factory PLC
30 April 2021
30 April 2021
Card Factory plc
(" Card Factory " or the " Company ")
Update on trading post re-opening
Liquidity Update
Card Factory, the UK's leading specialist retailer of greeting
cards, dressings and gifts, today announces both an update on
trading post the re-opening of non-essential retail in England and
Wales and its liquidity position.
Trading update
The Company is pleased to report that its performance following
the reopening of stores in England and Wales from 12 April 2021 has
exceeded its expectations.
We welcomed colleagues and customers back in our stores in
Scotland from Monday 26 April, with stores opening in Northern
Ireland today.
Liquidity Update
The Company has agreed headline terms for refinancing of the
Group with its current syndicate of commercial lending banks and
will issue a further update, over the coming weeks, once terms are
documented.
Pending documentation of the revised facility terms, the banking
syndicate has extended waivers in respect of anticipated covenant
breaches to 31 May 2021, taking account of the Company's cash flow
projections, subject to certain conditions.
A further update will be issued on the refinancing in due
course.
Enquiries
Card Factory plc via Tulchan Communications (below)
Darcy Willson-Rymer, Chief Executive Officer
Kris Lee, Chief Financial Officer
Tulchan Communications +44 (0) 207 353 4200
James Macey White / Elizabeth Snow cardfactory@tulchangroup.com
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END
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