Menswear retailer Moss Bros is to reopen its online operations tomorrow, after eight weeks of closure.
The retailer said it has “implemented the necessary operational changes” to protect employees and will operate with a reduced workforce.
Moss Bros had stopped selling online on 26 March, three days after the initial lockdown was announced.
It is also developing plans to reopen its stores in an “orderly manner”, following the government’s update on the phased reopening of stores from 1 June.
Over the lockdown period, Moss Bros said it had taken steps to reduce costs and conserve cash. These include:
- Using the government’s furlough scheme;
- Implementing salary reductions for continuing employees, including the board who have reduced their salaries by between 60% and 70%;
- Making redundancies where “necessary and unavoidable”;
- Pausing all non-essential capex;
- Actively engaging with suppliers regarding discounts and extended payment terms, and with landlords regarding rent holidays and deferrals.
The retailer said the board remains in dialogue with the Takeover Panel, after the news that Crew Clothing owner Brigadier Acquisition Company was looking to retract its £22.6m deal to buy menswear chain Moss Bros, a month after making the offer.
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