WGB.L Share News (WGB)

(Sharecast News) - Interior furnishings company Walker Greenbank said on Thursday that most of its employees have been furloughed due to the coronavirus outbreak.
The company said it is continuing to serve its customers in all key territories from warehouses in the UK and the US, whilst observing social distancing controls, hygiene measures and safety protocols.

Almost all other trading activities have been "significantly" reduced, it said, and the vast majority of its employees are now furloughed under the government's Coronavirus Job Retention Scheme and similar grant-based programmes overseas.

Those furloughed, the board, management team and others working from home, have accepted a temporary 20% salary cut. The group had already announced in March that it would not be paying a final dividend.

Walker Greenbank said it continues to receive licensing income, but a reduced level, "reflecting the ability of licensees to sell their products".

Chief executive officer Lisa Montague said: "Our customers remain a top priority. At the current time, we continue to serve customers in all key territories and we are positioned to resume operations swiftly when circumstances permit."