ScS today said that 80 of its stores in England opened for business on Saturday, while deliveries to customers have restarted through its distribution network.
The shops reopened on Saturday, in time for the bank holiday weekend, and the sofa business says it has put enhanced health and safety policies and procedures in place in order to protect both its staff and its customers. Its customer and staff support teams are working remotely.
As a home retailer, ScS is classed as an essential retailer and would have been able to trade throughout the coronavirus lockdown, which started on March 23. However, its 19 stores and the distribution networks that support them in Wales and Scotland are still closed in line with the guidance of those governments. “We continue to monitor the situation closely and will reopen as soon as possible,” ScS chief executive David Knight said in today’s statement.
The retailer, which employs 1,700 people, says it has built up its balance sheet through the recent pandemic. It drew down £12m from its revolving credit facility on March 17, and, including that, held £48.3m in cash as of yesterday.
Knight said: “While it is too early on the outlook for the weeks and months ahead, the group is pleased to have reached this key milestone. The board would like to thank our customers for their continued support and our colleagues for their online dedication and professionalism. ScS is a resilient business, with a strong balance sheet, coupled with a flexible cost base, and is well positioned to navigate this event and return to growth when the economy recovers.”
ScS, ranked Top500 in RXUK Top500 research, sells from 100 shops across the UK as well as online.
All shops, including non-essential retailers, will now be able to open by June 15, as long as the Covid-19 infection rate is under control.
Image: Screenshot of scs.co.uk