Card Factory performance exceeds expectations

Greeting cards retailer Card Factory has said its performance following the reopening of essential retail stores in England and Wales on 12 April has exceeded expectations.

The company also reopened stores in Scotland on 26 April and shops in Northern Ireland from today.

Giving an update on liquidity, Card Factory has announced that it has agreed terms for refinancing with its current syndicate of lenders. The syndicate has also extended waivers regarding the company’s anticipated covenant breaches to 31 May 2021, taking account of its cash flow projections. 

Card Factory said it will issue a further update on liquidity in the coming weeks.  

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