Card Factory to begin closing stores

Card Factory will begin selectively closing stores within the next few days.

Monday, 23rd March 2020, 8:39 am
Updated Monday, 23rd March 2020, 8:41 am

All stores of the Wakefield-based firm remain open today.

However, in response to the COVID-19 outbreak, the retailer confirmed it would begin closing stores after seeing "a very material drop in High Street footfall".

In a trading update Card Factory said it had seen a satisfactory start to the financial year, particularly with regard to seasonal and everyday card sales.

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Card Factory boss Karen Hubbard

It said: "The health and safety of our colleagues and customers remains our top priority and there are a number of measures and plans in place to ensure their continued welfare.

"The group continues to monitor the rapidly evolving COVID-19 situation closely.

"Whilst all stores remained open for trading on Sunday 22 March, we are reviewing our approach and expect to begin selectively closing stores shortly on a temporary basis."

It also confirmed a detailed review of its investment plan across the group, with significant reductions in non-essential capex having been identified.

New store openings have been significantly restricted, and limited to those where it is legally committed to complete. This stands at seven stores, and these openings will be delayed until the second half of the year