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CARD - Card Factory News Story

80.1p -0.8  -1.0%

Last Trade - 1:11pm

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £276.4m
Enterprise Value £565.1m
Revenue £356.4m
Position in Universe 749th / 1818

UPDATE 1-UK's Card Factory secures further waivers from lenders

Fri 26th February, 2021 3:56pm
(Adds background)
    Feb 26 (Reuters) - Britain's Card Factory  CARDC.L  said on
Friday it has secured further waivers from its lenders to ward
off expected covenant breaches until March-end and it is engaged
in a plan to refinance the company.
    The greeting card retailer, which last month secured waivers
until the end of February, said it expects to reopen most of its
stores in April.  urn:newsml:reuters.com:*:nL4N2K42NP
    Card Factory's combined credit score, which measures how
likely a company is to default in the next year on a scale of
100 (very unlikely) to 1 (highly likely), was "1" as of Friday,
Refinitiv Eikon data showed.
    Non-essential retailers across the UK have been battered by
repeated COVID-19 restrictions and forced to shut shops under
the latest lockdown, as Britain struggles to contain surging
coronavirus cases and a new variant of the virus.
    British Prime Minister Boris Johnson set out a phased plan
on Monday to end England's COVID-19 lockdown, offering a
"cautious" approach to try to prevent a return to wholesale
restrictions that have hobbled the economy.
    Card Factory, which has more than 1,000 stores across the UK
and Ireland, has seen a jump in online sales during the pandemic
but warned of an annual loss last month.  urn:newsml:reuters.com:*:nL4N2JP24E

 (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak
Dasgupta)
 ((tanishaa.nadkar@thomsonreuters.com; +919730172534; Twitter -
@TanishaaNadkar))
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