Moss Bros preparing to reopen shops with online sales from Wednesday
Euro News

Moss Bros preparing to reopen shops with online sales from Wednesday

Suits seller Moss Bros will reopen its online operations Wednesday following the government’s updated advice to some workers to return to work.

The retailer closed its 128 stores and stopped web sales after the corona virus was blocked.

But bosses said they plan to reopen stores starting next month, along with a range of other measures to save money, including layoffs and negotiating discounts with landlords and suppliers.

In a statement to the stock market, the company said, “After making the necessary operational changes to protect the well-being of its employees, and in light of the recently updated government guidelines on returning to work, the Board of Directors now decided to reopen the group’s e-commerce business from May 13, 2020, initially with a reduced workforce.

“The board also takes note of the recent government update regarding the possible phased reopening of stores from June 1 and is developing plans to reopen its stores in an orderly manner in light of this.”

The retail chain added that it has gained access to the corona virus job retention schedule and introduced salary cuts for its still-working staff, including a 60% to 70% reduction in the boardroom.

Moss Bros said it was also “actively in touch with its suppliers regarding discounts and extended payment terms,” ​​along with discussions with landlords about rental holidays and deferments.

The decision comes if the company continues to battle over who should own it.

Crew apparel owner, Brigadier Acquisition Company, said last month that it wanted to withdraw its £ 22.6 million offer for the chain, originally made before the Covid-19 crisis.

The Takeover Panel is investigating the request and Brigadier says it wants to introduce a “material adverse change” clause.


Nicole Benitez
Nicole Benitez is the author of our Euro News section. As the world awakens to a new dawn idea, a lot of fake news and misconceptions are communicated to the public when there is no need! For all our clarifications and Europe related policy decisions, Nicole is who we rely on. Her eloquence when debating issues plaguing Europe will leave you starstruck!

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