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Gusbourne distribution channels disrupted by Covid-19; secures new £10.5m lending facility

By BFN News | 08:54 AM | Tuesday 02 June, 2020


Sparkling wine maker Gusbourne said its distribution channels had been impacted by Covid-19 following a strong-than-expected start to the year. The company also said it had entered into a new £10.5m asset-based lending facility with PNC Financial Services in an effort to boost liquidity. Revenue in the first three months of the year was ahead of directors' expectations, but since the end of March, however, the distribution channels of the company had been impacted by Covid-19, Gusbourne said. 'Whilst the immediate outlook for sales remains uncertain, the directors remain confident about the Group's longer-term prospects beyond Covid-19,' it added. At 8:54am: (LON:GUS) Gusbourne Plc share price was +3.5p at 54.5p Story provided by StockMarketWire.com

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