Caffyns PLC COVID-19 Update (4164H)
24 Marzo 2020 - 3:50PM
UK Regulatory
TIDMCFYN
RNS Number : 4164H
Caffyns PLC
24 March 2020
Caffyns plc ("Caffyns" or the "Company")
COVID-19 Update: Temporary Closure of Retail Sites
To protect the health and wellbeing of our teams, our customers
and the wider community, the Board of Caffyns (the "Board") has
taken the decision to temporarily close the Company's car
showrooms, in line with Government advice, with effect from
Tuesday, 24 March 2020. Limited delivery of outstanding orders will
be completed by Wednesday, 25 March 2020 where possible.
The Company will operate a skeleton staff structure for
Aftersales to provide repair and MOT services to essential workers
whilst this remains practicable.
The Company's bankers, manufacturer partners and the Government
have been fully supportive and, as a result, the Board is confident
that the Company has sufficient financial resources to withstand
the impact of this closure beyond June 2020. The Board has put all
unnecessary capital expenditure on hold and is taking all possible
actions to ensure it can reopen the showrooms quickly once
restrictions are removed.
The Company's current financial year ends on 31 March 2020.
Trading since its half year results, released on 22 November 2019,
until the beginning of March 2020, when the impact of COVID-19
began to be felt, was broadly in line with the Board's
expectations. As a registration plate change month, March trading
is very important for the Company's full year outurn.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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March 24, 2020 10:50 ET (14:50 GMT)
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