Moss Bros is reopening its ecommerce arm with a “reduced workforce” from tomorrow, following recent government guidance about returning to work.
The formal menswear specialist said it had “implemented the necessary operational changes” to protect staff and, given the government’s encouragement that those who cannot work from home should return to work, would be reopening its ecommerce business from tomorrow.
The retailer said it was also “developing plans to reopen stores in an orderly manner” with an eye to non-essential retail stores being allowed to trade again from June 1, in line with government guidance.
Moss Bros previously closed its ecommerce and store operations on March 26, following the lockdown announcement, and had previously indicated it would not trade solely online due to a lack of customer demand for formalwear.
The retailer had been the subject of a £22.6m bid from Crew Clothing owner Brigadier Acquisition Company, but in late April notified the City that the investment vehicle was attempting to let its offer lapse.
In response to the coronavirus, Moss Bros said it had made various cost-saving measures including furloughing staff on the government’s coronavirus job retention scheme; making salary cuts; pausing all non-essential investment; and making redundancies “where necessary and unavoidable”.
It has also negotiated discounts and extended payment terms with suppliers and sought rent holidays or referrals from landlords.
Moss Bros said with these measures in place it was “now confident that the group has sufficient cash resources to continue trading through the second half of full-year 2021 and beyond”.