Fishing tackle retailer Angling Direct has raised a short term £2.5 million credit facility to help it over the current period of store closures. The majority of its office staff are now working remotely from home, whilst its store staff have been furloughed. Its UK and international web stores remain active. The business said that it now expects a material reduction in FY21 revenue and profitability.
Andy Torrance, CEO commented: “The retail environment has never before been in a position where it has had to deal with a crisis of this magnitude. Our focus remains on protecting our valued members of staff, ensuring appropriate and safe working conditions and, where possible, providing an uninterrupted service to our loyal and supportive customers.”
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