By John Smith • 22 January 2021 • 14:08
Trading is better than expected
Credit: John Lewis Partnership Media Centre
THE John Lewis Partnership has announced the early repayment of the £300 million (€330 million) HM Treasury and Bank of England Covid Corporate Financing Facility which was due for repayment on March 15.
Despite the problems of the last year when John Lewis stores were closed for several months, the Partnership believes it has sufficient liquidity going forward.
Trading during the peak months which included Black Friday and the Christmas period, held up better than anticipated and as a result, they expect full-year profits to be ahead of expectation.
Thank you for taking the time to read this news article “John Lewis will repay Covid loan early as trading has improved”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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