Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPDG.L Regulatory News (PDG)

  • There is currently no data for PDG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

COVID-19: Temporary Closure of Sites

24 Mar 2020 12:51

PENDRAGON PLC - COVID-19: Temporary Closure of Sites

PENDRAGON PLC - COVID-19: Temporary Closure of Sites

PR Newswire

London, March 24

COVID-19: Temporary Closure of Sites

(ISSUED 24 March 2020)

Pendragon Plc announces today that, in light of the current situation with COVID-19 and in line with the latest advice from HM Government, it will be temporarily closing all of its retail sites across the UK.

The safety of colleagues and customers remains the Group’s absolute priority. Pendragon expects to temporarily furlough the majority of its colleagues within the UK motor and Car Store divisions during this period, with only certain key roles continuing for the time being. 

The Group is currently assessing the extent to which it can continue its repair and maintenance operations to support the UK’s essential services in the coming weeks and will endeavour to maintain these services as long as possible.

The Group has to date received measures of both financial and operational support from many of its key manufacturer partners and other suppliers and stakeholders, which, combined with the additional support announced by the UK Government such as the job retention scheme, rates holidays (c.£15m p.a. benefit) and VAT deferral periods, will help protect the long-term health of both colleagues and the business. The Group will continue to engage with all stakeholders in order to identify opportunities to mitigate some of the challenges posed during this period. We are continuing to implement a number of measures to preserve cash across all areas of our business, including deferring capital expenditure and reducing our variable cost base. Bank net debt as at 23 March 2020 was £105m against a total facility size of £235m.

In line with the update given with the Group’s FY19 results on the 18 March 2020, it remains too early to accurately quantify what the impact of COVID-19 may be on the FY20 Group results. However, based on the rapidly evolving events over the past week, culminating in this temporary, full shut-down of our dealer network, existing financial guidance for the year ending 31 December 2020 is withdrawn until the Group has greater certainty over the both the duration and extent of the current situation.

Bill Berman, Chief Executive Officer said:

“The health and safety of our people, customers and partners remains my absolute priority. We are taking measures to ensure we are in line with the Government requirements to temporarily suspend sales operations in our dealerships. It is necessary for us to take these critical steps to ensure the safety of our operations while serving our stakeholders and properly positioning the business to recover fully from this unprecedented situation.”

 Enquiries
 Henry WallersHeadland07876 562436
 Jack GaultHeadland07799 089357
Date   Source Headline
13th Feb 20241:11 pmRNSChange of Company Name
9th Feb 20244:00 pmRNSHolding(s) in Company
9th Feb 202410:30 amRNSHolding(s) in Company
6th Feb 20249:00 amRNSPDMR Notifications
5th Feb 20243:43 pmRNSHolding(s) in Company
5th Feb 202410:48 amRNSHolding(s) in Company
1st Feb 20248:00 amRNSCompletion of the Disposal
31st Jan 20248:00 amRNSEBT Admission and Total Voting Rights
22nd Jan 20248:48 amRNSHolding(s) in Company
18th Jan 20249:29 amRNSHolding(s) in Company
18th Jan 20249:27 amRNSHolding(s) in Company
15th Jan 202411:07 amRNSHolding(s) in Company
15th Jan 20248:53 amRNSHolding(s) in Company
15th Jan 20248:47 amRNSHolding(s) in Company
9th Jan 20248:52 amRNSHolding(s) in Company
2nd Jan 20248:48 amRNSHolding(s) in Company
2nd Jan 20248:46 amRNSHolding(s) in Company
28th Dec 20236:14 pmRNSUpdate on the Disposal
21st Dec 20239:21 amRNSHolding(s) in Company
15th Dec 202312:30 pmRNSHolding(s) in Company
14th Dec 20239:06 amRNSHolding(s) in Company
14th Dec 20239:04 amRNSHolding(s) in Company
12th Dec 20239:33 amRNSHolding(s) in Company
30th Nov 202312:00 pmRNSHolding(s) in Company
21st Nov 202311:07 amRNSHolding(s) in Company
20th Nov 20236:31 pmRNSHolding(s) in Company
15th Nov 202312:00 pmRNSHolding(s) in Company
30th Oct 20238:49 amRNSHolding(s) in Company
25th Oct 20234:23 pmRNSHolding(s) in Company
25th Oct 202312:50 pmRNSResult of General Meeting
19th Oct 20233:15 pmPRNForm 8.3 - Pendragon plc
18th Oct 20232:45 pmRNSForm 8.5 (EPT/RI)- Replacement of Pendragon plc
18th Oct 20232:43 pmRNSForm 8.3 - Pendragon Plc
18th Oct 20232:40 pmRNSForm 8.3 - Pendragon Plc
18th Oct 20232:39 pmRNSForm 8.3 - Pendragon - Amendment
18th Oct 20231:18 pmPRNForm 8.3 - Pendragon Plc
18th Oct 202312:00 pmRNSAdditional Listing & Total Voting Rights
18th Oct 202311:38 amRNSForm 8.5 (EPT/RI)
18th Oct 202311:18 amRNSForm 8.3 - Pendragon PLC
18th Oct 202310:27 amRNSForm 8.5 (EPT/RI) - Pendragon plc
18th Oct 202310:03 amGNWDimensional Fund Advisors Ltd. : Form 8.3 - PENDRAGON PLC - Ordinary Shares
17th Oct 20239:20 pmPRNForm 8.3 - Pendragon plc
17th Oct 20236:04 pmRNSStatement re Pendragon PLC
17th Oct 20231:22 pmPRNForm 8.3 - Pendragon Plc
17th Oct 202311:43 amRNSForm 8.5 (EPT/RI) - PENDRAGON PLC - Amendment
17th Oct 202311:42 amRNSForm 8.5 (EPT/RI) - PENDRAGON PLC - Amendment
17th Oct 202311:42 amRNSForm 8.5 (EPT/RI)
17th Oct 202310:10 amRNSForm 8.5 (EPT/RI)-Pendragon plc
17th Oct 20239:35 amGNWDimensional Fund Advisors Ltd. : Form 8.3 - PENDRAGON PLC - Ordinary Shares
17th Oct 20239:35 amRNSForm 8.5 (EPT/NON-RI) Pendragon Plc

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.