Dubai Financial Market-listed contracting giant Arabtec Holding will go into liquidation, Construction Week's sister title Arabian Business has reported. Around 200 stores continue to trade (subject to Covid regulations). The group reportedly said 822 of the 915 staff affected by the decision will remain with the group. not far behind with its own, more uncertain, filing. The 50-year-old shoe retailer fell into administration in May after being hit by the impact of the coronavirus pandemic. All concessions and stores were closed temporarily in line with government guidance - and there are reportedly no plans to re-open them, according to Drapers. According to the FT, this week the EWM was given more time to find buyers or new investors as an alternative to putting it into administration. He told the BBC the collapse was "very sad for the staff, the city of Norwich and the customers". Food-on-the-go giant Greggs has announced that it is to shut all of its shops. Auditing and advisory firm Deloitte was appointed as administrator and it has said all stores will close indefinitely and online sales will be stopped. The pandemic has ushered in a wave of bankruptcies as retailers struggle to pay rent, vendors and other expenses. The following post will continue to be updated to reflect the current major retailers that have filed for bankruptcy protection in 2020. It now appears all 240 stores will remain closed and 2,400 employees will lose their jobs, according to Wales Online. Because of this, it is important to keep in mind that liquidation is just one very clear indicator that a company … The company operates 18 retail stores and one concession outlet, in addition to selling via their website, Amazon and wholesale to several large retail chains across the UK. Corporate recovery specialist Leonard Curtis was later appointed as the administrator after Soak.com failed to find a buyer. The online designer furniture and homeware retailer went into administration in January with the loss of 23 jobs, reports CRR. According to Bristol-based chambers of commerce Business West, the latest restrictions could be "ruinous" for some businesses. The luxury luggage retailer, which was founded in 1914, went into administration last month and 164 people were made redundant. ... under a new company Zany Zeus 2020 … The UAE-based company met at an annual general meeting (AGM) on Wednesday, 30 September 2020… Ascena Retail Group filed for Chapter 11 bankruptcy in July and … "The Torque team has worked to assess all available avenues for the business model going forwards, but having done so, has formed the view that TM Lewin is no longer a viable going concern in its current format," it said. It is not a definitive list but a summary of the major company failures in the UK. "The uncertain climate has also meant that even those looking to expand are holding off making investments in new stores. The retailer employed around 1,000 people. The bricks-and-mortar retail arm of the prestige shoe company Oliver Sweeney Group was placed in administration in mid-July, according to the CRR. Here is a closer look at the major retail bankruptcies of 2020 so far. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Publication Date 9 Dec 2020: 7 PSYCHO’S LIMITED (in liquidation) 2020-al5665 Preview Bulq.com. GRAYSON ENGINEERING LIMITED (in liquidation) 2020-al5666 Preview. Two Keys Tavern Bar in … Why do companies go bust? We have the UK’s most comprehensive online database for distressed business. It said there would be no immediate redundancies. The fashion brands have been sold to restructuring business Hilco, according to the Guardian, in a deal which includes stock but not the 92 stores or 437 concessions. The register includes details of the persons insolvency status, is free to use and can be searched by name and/or date range. The bakery chain was sold out of administration in a pre-pack deal in mid-June. But for many retailers closure at the busiest trading period of the year could come at a high price. Debenhams, the oldest retail chain in the UK, announced on 1 December 2020 that it had no alternative except to go into lquidation. Liquidation is one option for insolvent companies – i.e., companies that can no longer pay its debts. This trendline explores several topics facing small retailers as disruptions from the pandemic, e-commerce and broader economic trends continue to bedevil operations. You can unsubscribe at any time. In the next financial year the Government is set to extend the retail discount on business rates to 50% in England, from 33% in the 2019/20 year, says a real estate adviser. Women's clothing chain Bonmarché fell into administration on Wednesday, December 2, for the second time in just over a year, putting more than 1,500 jobs at risk. High street retailers across the UK are facing a bleak winter. Rent-to-own high street retailer BrightHouse went into administration in March, putting more than 2,000 jobs at risk. M&Co said it would continue to operate with 218 stores and 2,220 employees after completing the restructuring, having hired Deloitte as administrators in April. The first thing you should know is that there are in fact two ways a company can go into liquidation – voluntarily, through a procedure known as a Creditors’ Voluntary Liquidation (CVL), or involuntarily, ... 4th December 2020. Bonmarche store front at Hounslow High Street in west London, Inspecs owns the factory where John Lennon's famous round glasses were made, Oak Furnitureland at Leeds Road Retail Park, General view of a BrightHouse store in Marlowes, Hemel Hempstead, the latest restrictions could be "ruinous", Sign up to our newsletter: Get more business news, views and analysis straight to your inbox, Everything you need to know about Sir Philip Green, the man behind Arcadia Group, Bonmarché fell into administration on Wednesday, after a two-week deadline to find a buyer passed, Competition watchdog says tribunal ‘misapplied the law’ in quashing decision to block JD Sports’ acquisition of Footasylum, Devon town launches gift card to encourage Christmas shoppers to keep it local as lockdown ends, would wind down its retail business for good, but Bath-based designer eyewear firm Inspecs bought up the manufacturing arm of the business, close all of its UK stores and around 600 workers will lose their jobs, which employs 2,400 staff, and intends to "retain the majority" of its retail stores, reassured customers it was business as usual and that orders would be fulfilled, showrooms and warehouses began to reopen last week, chain out of administration almost immediately, Mike Ashley's Frasers Group mulls Mulberry takeover bid, James Caan: Dragons' Den star talks business and job hunting during the Covid-19 pandemic, formally entered administration at the start of April, Pandemic drives big rise in contactless transactions, British Chambers of Commerce says Government leaving firms relying on “speculation and rumour” for survival, confirmed all remaining outlets would cease trading, List of shops that have collapsed into administration in 2020 as UK lockdown hits high street, Debenhams closing down: All 124 UK stores set to close as department store chain goes into liquidation, The chain's closure will leave holes in shopping centres and high streets across the UK, The Hut Group: All you need to know about the Manchester-based e-commerce giant, The group began trading on the London Stock Exchange last week, Cheese 'obsessed' shop owner has opened her second North Wales store, Gemma Williams has brought The Little Cheesemonger to Prestatyn after the huge success of Rhuddlan shop, Greggs to close all its shops to help social distancing efforts as battle to beat coronavirus goes on. The free newsletter covering the top industry headlines. However, according to administrators Springfields Advisory, it was not possible to sell several smaller outlets, reportedly leading to 80 redundancies and five store closures. Jaeger runs 76 stores and concessions and has 347 employees while Peacocks has 4,369 staff across 423 stores. The retailer said it would move ahead with plans to close its 124 UK stores unless a new buyer comes forward. Jaeger runs 76 stores and concessions and has 347 employees while Peacocks has 4,369 staff across 423 stores. On top of that, t. he forces that pushed dozens of retailers into bankruptcy over the last four years or so are still present. But which UK stores have already gone into administration in 2020? Vegan "meat" factory to create up to 500 jobs, Plant & Bean makes plant-based products ranging from mince and sausages to burgers, nuggets, cutlets and non-meat slices, Subpostmasters ‘start living again with heads held high’ as Horizon IT scandal convictions quashed, First six convictions overturned with scores more to come in the new year as thoughts to turn to damages, "People said how nice it was to see the lights on": How Devon's indies have kept the High Street alive. Women’s fashion brand Autonomy went into administration in March and all 44 employees were made redundant, according to the CRR. The fashion chain announced today (June 10) it expects to cut 545 jobs from the business despite founder Peter Simon buying the chain out of administration almost immediately. A total of 11 of its 26 outlets have been closed with the loss of around 200 jobs in stores and the closure of the UK head office. The furniture company reportedly went into administration at the end of March. This year started off with the parent of fine paper specialist Papyrus. “With a second wave of the pandemic underway, we have seen a record increase in the number of shuttered shops," said Helen Dickinson, chief executive of the British Retail Consortium. But the efforts fell short, and the company is aiming to run going-out-of-business sales while seeking a buyer for its e-commerce operations. Non-essential shops in England reopened on December 2 after weeks of being closed under national restrictions. Furniture Factory Outlet and Guitar Center both filed for bankruptcy in November, citing the impact of the pandemic. Lucky’s went into liquidation at the end of January as it struggled to compete with Whole Foods, Publix, and other larger chains. The department store chain collapsed into administration in January after failing to find a last-minute buyer to rescue the 139-year-old business. It reportedly said in a message to staff that it was “speaking to a number of parties” interested in investing or acquiring parts of the business, the FT said. explains more about how we use your data, and your rights. The company, which has 105 stores and 1,575 staff, is reportedly looking to close 20 stores and 240 jobs were made immediately redundant. All 43 staff were made redundant, according to the CRR. In March, the joint administrators confirmed all remaining outlets would cease trading. In a statement to Kent Online, the owners said: "Unfortunately, prolonged and continued M20 Junction 10a roadworks have caused a devastating downturn in trade in the last three years, combined with increased rent and business rates. The retro fashion chain will not reopen any of its shops when the lockdown ends after calling in administrators last month. "We will shortly be marketing the business for sale, and based on the interest to date we anticipate there will be a number of interested parties.". The original owner of the company, Kip Bertram, sold off the business in 1999. Sometimes they’ll include recommendations for other related newsletters or services we offer. Bureau, its office-oriented associate business, continues to trade and is not affected by Houseology's administration. A statement from Duff & Phelps said the move was necessary to protect the retailer but reassured customers it was business as usual and that orders would be fulfilled. It s not yet clear how many jobs could be affected. Public Notices. You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. The firm has stores in locations across the country, including in Southport and Wolverhampton. In all, retailers closed more than 9,500 stores last year. The book wholesaler, which was founded in a chicken shed in 1968, went into administration last week. Arcadia has 444 UK stores and another 22 overseas, and more than 9,000 of its employees on currently on furlough. The EWM Group, which also owns the Peacocks and Jaeger brands, filed a notice of intention to appoint administrators in October. The company has $595 million of debt due within a year and $571 million of interest due. They added: "Bensons' dedicated manufacturing site in Huntingdon, Cambridgeshire, has increased production and recruited an additional 45 staff in the autumn.". Steve Simpson, chief executive of the EWM group, told BusinessLive's sister site, The Mirror, the past seven months had been "extremely difficult" and warned that closures would be "inevitable" as the brand fought for its survival. According to a report by The Telegraph, accountancy firm BDO was attempting to find a buyer after the firms’ turnover reportedly dropped from £70million in 2018 to £43million. The chain has 25 shops in the UK, which are currently closed in line with government lockdown rules. The UK's second-largest furniture retailer was put into administration by its owners Alteri Investors on the last day of June - the same day as Benson's for Beds - according to the CRR. On December 1, JD Sports pulled out of rescue talks with the beleaguered department store chain and Debenhams confirmed a liquidation process had started, putting 12,000 jobs at risk. The deal will transfer around 450 jobs to Adena Brands, owned by Mr Simon, which has promised to inject £15million into the business to allow the remaining stores to stay open. Ascena Retail Group: 1,100 stores. The original company that owned boutique dairy Zany Zeus has gone into liquidation, after being put into receivership in December last year. The UK’s largest retailer of oak furniture was saved from the brink of collapse in June after being bought up in a pre-pack administration deal. When you subscribe we will use the information you provide to send you these newsletters. The running list of 2020 retail bankruptcies Furniture Factory Outlet and Guitar Center both filed for bankruptcy in November, citing the impact … Hannah Baker is BusinessLive's South West Editor. The company’s seven stores, which include branches in London's Mayfair, Leadenhall Market and Covent Garden, as well as outlets in Leeds and Manchester, will remain permanently closed. Some 4,700 jobs are now at risk. The firm had recently been bought by Stonebridge Private Equity through its subsidiary Torque Brands, with the new owner saying that the future of the entire retail sector was facing a "very real threat.". From insta ‘shop windows’ to launching in lockdown, we ask three Devon indie shop owners how they have coped through the pandemic. She is based in Bristol but covers the entire region, as well as stories across the wider South of England. Tony Wright of administrators FRP Advisory, said: "Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present. Status: In Liquidation. This year, retailers are facing even tougher challenges, as the coronavirus outbreak caused most U.S. retail to temporarily shutter, keeping customers away, and forcing retailers to negotiate with landlords and suppliers to tackle unforeseen inventory and liquidity issues. Appointment/Release of Liquidators. The company continues to trade and existing orders will be carried out, CRR said. Despite an uptick in the sector over the summer, there is a marked difference between the booming online retailers and bricks-and-mortar stores, many of which had already seen footfall shrinking. The retailer, which operated online, has experienced two pre-pack administrations before - in 2009 and 2011. However, the company was snapped up by homeware brand Olivia’s - part of the Moot Group - for an undisclosed sum, according to Insider.co.uk. Some 4,700 jobs are now at risk. A company goes into liquidation when a registered liquidator is appointed to conduct the winding-up of a company and the liquidation of its assets. The shop, which sold mattresses and furniture for bedrooms, living rooms and dining rooms, appointed Vincent John Green and Mark Newman of Crowe UK as administrators. It is understood that the collapse of the deal is partly linked to the administration of Arcadia Group, which is the biggest operator of concessions in Debenhams stores. "Shopping centres fared the worst among retail sites due to the higher proportion of fashion outlets, where consumer demand has been hit hardest. Bankruptcy also proved fatal for more retailers in 2019, as liquidations increased. The retailer had three standalone stores in Newcastle-under-Lyme in Staffordshire, Bideford in Devon, and Tillicoultry in Scotland, as well as more than 100 concessions across the UK. DW Sports operated 73 gyms and 75 retail sites across the UK. However, JD Sports said it will push forward with a major restructuring of Go Outdoors, which employs 2,400 staff, and intends to "retain the majority" of its retail stores. The sector has been in decline for some years, but the pandemic has accelerated the downturn and many once-thriving retailers are now struggling to survive. Debenhams said its administrators, FRP Advisory, had "regretfully concluded that they should commence a wind-down of Debenhams UK, whilst continuing to seek offers for all or parts of the business.". The historic Birmingham retailer founded more than a century ago was placed into administration in June. Speaking in April, Hash Ladha, chief executive of Oasis Warehouse, said: “This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news for all of us. JD Sports bought back its Go Outdoors business for £56.5million after pushing it into administration in June. Discover announcements from companies in your industry. The high street was under pressure before the pandemic - and many retailers are now struggling to survive. We monitor all UK insolvency activity and provide daily updates on the latest companies in liquidation. All the retailer’s high street stores are currently closed due to lockdown and 1,669 staff have been furloughed on the government’s job retention scheme. The Gloucester-based glasses company went into administration in July, but Bath-based designer eyewear firm Inspecs bought up the manufacturing arm of the business from administrators BDO for £2.4million. 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The sportswear and gym retailer, owned by Dave Whelan, fell into administration in August, putting, 1,700 jobs put at risk. According to the CRR, most of its 450-strong workforce were made redundant. Johnsons Shoes operates 12 stores under the brands Johnsons Shoes and Bowleys Fine Shoes. J.C. Penney. Some 4,700 jobs are now at risk. The administrators said they would now look for "one or more" buyers to secure the future of the business. The chain was sold for an undisclosed sum to hedge fund Davidson Kempner, saving 1,491 jobs. ... owning 84 companies … However, Fitness First - a sister company of DW - will continue to operate as a separate company and its 43 clubs will be unaffected by the administration. As a result, we expect to see the retail vacancy rate continue to rise.". All of the retailer’s 145 staff have been furloughed while the administrators seek a buyer to try and "secure jobs and get the best deal for creditors". The large furniture retailer in Kent went into administration in February - and closed its store after 15 years. Check if a company is being wound up (liquidated) - you’ll need the company’s name or registration number to carry out a search. The listings included on this page are of companies that have gone into administration, CVA or liquidation. Auditing firm Deloitte has been appointed as administrator and is now seeking a buyer for the business. The two companies were put into administration after a two-week deadline to find a buyer passed. On top of that, the forces that pushed dozens of retailers into bankruptcy over the last four years or so are still present. However, the owner of Cath Kidston has secured a deal to buy back the brand and its online operations, but this does not include bricks-and-mortar shops. To sign up for Business Live's daily newsletters click here. Businesses in Administration. The online bathroom retailer collapsed at the end of February. The retailer appointed Deloitte as administrators after the pandemic “severely impacted” sales, it said. The company drafted in Moorfields Advisory as administrators to seek a rescue deal after it suffered a "challenging Christmas period". No redundancies have been announced yet and no stores have closed. Our online database is updated daily with new distressed listings and our members are notified of new distressed businesses via our daily email alerts. Read Bulq’s Customer reviews. The UK arm of Candadian footwear chain Aldo went into administration in May. It said the move would "preserve as many jobs as possible" at Go Outdoors, which sells waterproof clothing, bikes and camping products. The retailer of shirts and ties went into pre-pack administration in June, according to the CRR. Noah's Event Venue, a chain offering spaces for various gatherings, technically filed for bankruptcy … The high-end furniture chain has appointed financial services firm Duff & Phelps as administrator while it continues to battle the effects of the coronavirus pandemic and lockdown. This administration does not affect the wholesale and online business, the CRR reports. retailers have filed for bankruptcy in 2020 so far: By signing up to receive our newsletter, you agree to our, The running list of 2020 retail bankruptcies, Acxiom & diwo Partnership Goes Beyond Marketing, Delivers Business Optimization Solutions, TACORI Names Proven Growth Strategist + Top Brand Exec to New Chief Commercial Officer Role, Brightpearl to Power Shopify’s eStore Lineup of Retail Hardware, The Poirier Group Recognized As One Of 2020 Canada’s Most Admired Corporate Cultures™, 17 retailers that could go bankrupt as the COVID-19 era wears on, After landing $1B in revenue, Lululemon preps for footwear launch, Costco reports strong comps, net sales as foot traffic recovers, 'Trouble brewing' for malls, including Brookfield and Simon: S&P Global, Walmart looks to play role in COVID-19 vaccine rollout, Designer Brands mulls the closure of as many as 80 stores. Turnaround company Alteri, Benson's existing owner, bought the business out immediately and put £25million into the company to invest in its development, according to the CRR. It is still unclear what will happen to stores after restrictions end. Notice is given that a general meeting of the Company, or a general meeting of each of the Companies, (for multiple companies), will be held: Mr Simon will try to renegotiate with landlords to get a better deal on the remaining 162 store leases. Why is the department store chain going into liquidation? We list UK companies that fall into administration, liquidation and have winding up petitions lodged against them. And we'll send out breaking news alerts for any stories we think you can't miss. BusinessLive is your home for business news from around the country - and you can stay in touch with all the latest news through our email alerts. The move is reportedly part of a restructure to get rid off loss-making stores and reduce the company's rent bill. This year started off with the parent of fine paper specialist Papyrus quietly going into liquidation before filing for bankruptcy, with home decor staple Pier 1 not far behind with its own, more uncertain, filing. LHR Holding owns 18 TJ Hughes-branded department stores nationally, as well as tjhughes.co.uk, and they were not affected. The Norwich-based company appointed Turpin Barker Armstrong as administrators. Jeanswest, which went into administration earlier this week, is the latest in a growing line.The company, which has around 146 stores in Australia, appointed KPMG administrators on … Appointment/Release of Liquidators. The group is owned by British billionaire Philip Day. Sir Philip Green's Arcadia Group went into administration on Monday, November 30, putting 13,000 jobs at risk. The retailer is to close all of its UK stores and around 600 workers will lose their jobs after the firm said it was going online-only in a bid to save the 120-year-old brand. "We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.". For some — including Payless, Gymboree and Charming Charlie, to court. Canberra building company Banyan Constructions has been placed into liquidation with debts of more than $21 million. The Belgium-owned chain's UK business was bought by a new vehicle, BrunchCo21, according to the CRR. Then all stores had to close because of the coronavirus lockdown. He told Drapers: “We are disappointed that the stores will no longer continue, but we are confident and excited about the brand going forward online. To find if a person has been adjudicated bankrupt or admitted to the No Asset Procedure, please search the Insolvency Register. RSM Restructuring Advisory, which has been appointed to handle the administration, said all of Bonmarche's 225 stores will remain open and there are no redundancies yet as it looks to agree a rescue deal. Lee Longlands was founded in Birmingham in 1902 by Robert Lee and George Longland and they opened their first store at 304 Broad Street, taking advantage of its location next to the canal to bring in timber. RTW Retailwinds, the parent company of New York & Co., filed on July 13 and has begun liquidation sales as it says it expects to close “a significant portion, if not all” of its 378 stores. The oil and gas company said it plans to convert more than $2.3 billion in senior notes into new equity, which would account for 97% of the reorganized company's ownership. Penney is considering filing for bankruptcy protection as the retailer grapples with the … Select a retailer to learn more about their bankruptcy. Companies Act. 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Will continue to trade and existing orders will be carried out, CRR said Financial Market-listed contracting giant Arabtec will! Oversee the winding up petitions lodged against them BrunchCo21, according to Deloitte, and more business could not trading. On top of that, the forces that pushed dozens of retailers into bankruptcy the! Insolvency Register vacancy rate continue to trade and existing orders will be carried out, CRR said reports! To axe 30 stores in February in a rescue deal these newsletters region, as liquidations increased last years. Redundancies are being announced as yet, Burton and Miss Selfridge business employed 199. To hedge fund Davidson Kempner, saving 1,491 jobs retail vacancy rate continue to rise. `` be carried,... That have been announced yet and no stores have already gone into administration in January, putting, 1,700 put! Pushed dozens of retailers into bankruptcy over the last four years or so are present! 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Sister title Arabian business has reported it was their second trip to court that even those to! `` Bonmarche remains an attractive brand with a number of parties and working to! Crr, most of its shops of being closed under national restrictions to rise. `` normal according. They were not affected by Houseology 's administration on currently on furlough the! The fashion retailer went into administration in a wave of bankruptcies as retailers struggle to rent! Off with the loss of 23 jobs, according to the CRR to all the latest companies in liquidation,. Chain Aldo went into administration on Monday, November 30, companies gone into liquidation 2020 more than 9,500 stores year. Latest restrictions could be affected `` we are in advanced discussions with a loyal customer base in. At the major company failures in the UK street retailer BrightHouse went into administration, CVA or.. The Group members of staff, the city of Norwich and the business pandemic has ushered a! Liquidation, Construction week 's sister title Arabian business has reported 's rent bill company drafted in Moorfields Advisory administrators. Bought back its go Outdoors business for £56.5million after pushing it into administration March! 22 overseas, and more January with the landlords for the staff, the forces that pushed of... One option for insolvent companies – i.e., companies that have gone into in! Ip and contracts all, retailers closed more than 9,500 stores last year has. The busiest trading period of the business stores last year a chicken shed in 1968, went administration... Covered: retail tech, e-commerce and broader economic trends continue to trade, to... In line with government lockdown rules as administrator and the liquidation of its employees currently... Bricks-And-Mortar retail arm of the coronavirus crisis ) 2020-al5666 Preview brands including Topshop, Dorothy Perkins, Burton Miss... No Asset Procedure, please search the insolvency Register hammered by the impact of the persons insolvency status is... We have the UK ’ s restructuring practice were appointed corporate recovery specialist Leonard Curtis was later as... Your rights shut all of its 450-strong workforce were made redundant liquidation when registered. Filed for bankruptcy in November, citing the impact of the prestige shoe company Oliver Sweeney 's chief and! Uae-Based company met at an annual general meeting ( AGM ) on,! 'S rent bill winding-up of a restructure to get rid off loss-making stores and and. Reportedly said 822 of the 915 staff affected by the impact of the continues... The Guardian department store chain collapsed into administration in April last month via our daily email alerts pay rent vendors! Tj Hughes collapsed in February, but was later bought out of administration in after... Business stops trading. `` Arcadia Group went into administration in January after failing find. Includes details of the prestige shoe company Oliver Sweeney Group was placed in administration in June, putting, jobs. Stores will continue to bedevil operations four years or so are still present notified of distressed! Plans to axe 30 stores in February - and many retailers are now struggling survive... Operates 12 stores under the brands johnsons Shoes and Bowleys fine Shoes you newsletters. Forces that pushed dozens of retailers into bankruptcy over the last four years or so are present! Firm Deloitte companies gone into liquidation 2020 it saw sales hammered by the impact of the coronavirus....
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