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CARD - Card Factory News Story

80.1p -0.8  -1.0%

Last Trade - 1:11pm

Consumer Cyclicals
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.*: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.*:nL4N2JP24E

 (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak
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