Discount hobby shop The Works 'could run out of money'
- Credit: The Works
Bosses at retailer The Works, with shops across Norfolk and Waveney, have expressed concerns about its future in lockdown.
The firm said there are scenarios where it would breach its agreements with lenders in the next financial year.
It said it "represents a material uncertainty that may cast significant doubt on the group's and the company's ability to continue as a going concern".
The company reported that in-person shopping restrictions over the last few months have seen revenue drop by nearly a quarter.
Sales have fallen by 24.8pc, despite a 70pc jump in online sales compared with the same period a year ago.
You may also want to watch:
In the six months to the end of October, revenue dropped by 7.8pc to £88.9m, as the company's shops were forced to close.
The firm did, however, see a rise in sales of art, crafts, jigsaws and books as part of a "beat the boredom" offer in lockdown.
- 1 Norfolk discount store to take over former Poundstretcher building
- 2 'Stunning' period home which was once a village library is for sale
- 3 Warning over 'Royal Mail' fake text scam
- 4 What our readers think of the vaccine passport debate
- 5 Hospital first in UK to open vaccine clinic for people with disabilities
- 6 Comedy in the Park and Britannia Pier shows among confirmed 2021 events
- 7 Warm winds bring Saharan dust as temperatures soar to 17C
- 8 'People are keen to come' - What is happening with our big summer events?
- 9 Could the UK introduce Covid vaccine passports - and how would they work?
- 10 MPs say vaccine roll-out 'under control' - despite jabs offered in Brighton