Schuh secures £19m bank facility to smooth downturn
Schuh has 120 stores across the UK and Ireland
Footwear retailer Schuh has secured a £19 million bank facility to help bolster its balance sheet.
It is expected to aid the Livingston-based firm’s long-term liquidity while lowering its expenses.
Schuh has more than 120 stores in the UK and Ireland as welll as a well-established ecommerce platform.
This should help cushion the firm through an anticipated fall in in-store sales well below forecast for FY2020/21.
Managing director Colin Temple said: “Our business model has stood us in good stead to continue to meet customer demand throughout 2020.
“As the all-important golden quarter of trading continues to play out with different tier systems to manage throughout our store estate, it’s only right that we continue to take steps to ensure we’re in the best shape to overcome further disruption in 2021.”