Marks & Spencer has introduced it has received clean funding to safe liquidity for the duration of the Covid-19 pandemic and over and above, and has warned of
“subdued” investing in its House & Clothes division throughout the year.
The British retail giant has struck a formal settlement with banking institutions giving the 1.1 billion pound revolving credit facility “to substantially rest or get rid of covenant conditions for the assessments arising in September 2020, March 2021, and September 2021.”
The company also stated it expects its Clothes & Home business to be
“severely constrained for the duration of lockdown and remarkably unsure investing…
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