Walker Greenbank (LSE:WGB)
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RNS Number : 9966N
Walker Greenbank PLC
27 May 2020
27 May 2020
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Phased Return of Manufacturing
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that it is restarting manufacturing on a phased, demand-led basis following the Covid-19 related shutdown of its two UK factories. Staff began to return last week to Standfast & Barracks, the Company's fabric printing factory in Lancaster, and this week staff will return to the Company's wallpaper printing factory, Anstey & Co, in Loughborough.
As previously announced, both factories were temporarily closed due to Covid-19 and factory staff furloughed. Staff are returning to the factories on a phased basis following both factories having been made Covid-19 secure in line with UK Government guidelines. The phased re-opening of both factories is to meet customer demand, together with preparations ahead of the autumn selling season. The Company has continued to serve customers worldwide throughout the lockdown period from its warehouses in the UK and US.
Last month, Standfast & Barracks won the Queen's Award for Enterprise 2020 for International Trade, reflecting the factory's strong growth in export sales in the past three years. The factory has continued to attract overseas orders during the past few weeks and it has also donated more than 3,000m of fabric to a local community group in Lancashire sewing scrubs for care workers.
Standfast & Barracks will this week begin printing its third party order book, requiring about half of the factory's workforce to be back at work.
The first staff at Anstey & Co will return this week to prepare the wallpaper factory's printing machinery for print runs including Zoffany's new Palladio collection, an exciting screen-printed wallpaper collection that draws on the original Palladio wallpapers launched in the 1950s which subsequently became part of the Company's Sanderson archive. In addition to archive-based designs, the collection will feature a completely new design by the influential designer Sam Wilde to add a contemporary dimension to the collection and to continue the tradition established in the 1950s of talented new designers creating Palladio wallpapers.
The launch of Zoffany's Palladio collection will take place in September this year using innovative digital resources compared with a traditional product launch.
A further update on the Company's return to production, trading and strategy will be included in the Company's full year results for the year ended 31 January 2020 to be announced on 30 June 2020.
Lisa Montague, Walker Greenbank's Chief Executive Officer, said: "Throughout the Covid-19 lockdown, we have continued to fulfil customer orders from our warehouses in Milton Keynes and New Jersey and we are very grateful to staff who have enabled us to keep trading. We are now pleased to be able to restart manufacturing at our UK fabric and wallpaper printing factories in line with current health and safety guidelines.
"Standfast & Barracks' recent Queen's award for international trade reflects the excellence of the fabric factory's design, manufacturing and service and its ability to win third-party export orders.
"From our own brands, we are particularly excited by the forthcoming launch of Zoffany's Palladio wallpaper collection, an archive-derived reinvention of critically acclaimed wallpapers from the 1950s along with a completely new design, Precarious Pangolins, by Sam Wilde."
For high-resolution images of Zoffany's Palladio wallpapers, please use the following link s:
Palladio Lifestyle Images
For further information:
Walker Greenbank PLC +44 (0) 1895 221068
Lisa Montague, Chief Executive Officer
Michael Williamson, Chief Financial Officer
Investec Bank plc (Nominated Adviser and
Broker) +44 (0) 20 7597 5970
David Anderson / Henry Reast / Alex Wright
Buchanan +44 (0) 20 7466 5000
Mark Court / Toto Berger / Charlotte Slater
Notes for editors:
About Walker Greenbank
Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.
Walker Greenbank's brands include Zoffany, Sanderson, Morris & Co, Harlequin, Scion and Clarke & Clarke.
The Company has a strong UK manufacturing base, comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.
Walker Greenbank employs more than 650 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris and Dubai.
Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.
For further information please visit: www.walkergreenbank.com
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(END) Dow Jones Newswires
May 27, 2020 02:00 ET (06:00 GMT)