United Carpets Group plc COVID-19 Update (9510H)
30 Marzo 2020 - 12:00AM
UK Regulatory
TIDMUCG
RNS Number : 9510H
United Carpets Group plc
30 March 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) 596/2014 (MAR). ON PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
30 March 2020
UNITED CARPETS GROUP plc
("the Group" or "the Company" or "United Carpets"),
COVID-19 Trading Update
United Carpets Group plc (AIM: UCG) the third largest chain of
specialist retail carpet and floor covering stores in the UK,
announces the following update in connection to the COVID-19
pandemic.
Like so many companies, our primary concern has been the
well-being, safety and health of our employees, customers,
suppliers and all who enter our stores. Since the outbreak of
COVID-19, the Group has been closely following the UK Government's
guidance and applying this to working practices across its retail
store network, distribution centre's and offices to help prevent
the spread of the virus.
In tandem with the announcement by the UK Government, all 58
United Carpet stores were closed. Key staff who can perform their
roles remotely are working from home, with all non-essential travel
curtailed, and the Group is no longer fulfilling product orders
until guidance on non-essential travel is lifted.
While trading across the store network held up comparatively
well during early March, the store closures will necessarily have a
significant and immediate impact on revenues. As it is still
uncertain how long the stores will need to remain closed and
thereafter how quickly it will be for normal retail spending
patterns to resume, it is not presently possible to provide
guidance on the outcome for the current financial year ending 31
March 2020 or for the next financial year.
The Group is currently working through the Government's range of
COVID-19 related, financial assistance packages and will utilise
those elements which are beneficial to the business. While this
extraordinary period continues the Board will manage the business
on a prudent and conservative basis.
The Board will monitor the situation closely and further
announcements will be made as appropriate.
Enquiries:
United Carpets Group plc
Paul Eyre, Chief Executive
Ian Bowness, Finance Director 01709 732 666
Cantor Fitzgerald Europe (NOMAD and Broker)
Rick Thompson
Michael Boot 020 7894 7000
Novella Communications Ltd
Tim Robertson
Fergus Young 020 3151 7008
The person responsible for arranging the release of this
information is Ian Bowness, Finance Director of the Group.
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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