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Business

Published on January 25th, 2021 | by The GC Team

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John Lewis Partnership repays Covid-19 loan

The John Lewis Partnership has announced the early repayment of a £300m HM Treasury and Bank of England Covid Corporate Financing Facility, which was due for repayment on 15 March 2021.

In a statement, the business said: “Despite the head winds of the last year when John Lewis stores were closed for several months, and future trading volatility, the Partnership believes it has sufficient liquidity going forward.”

The retailer also said trading during the peak period which includes Black Friday and the Christmas period held up better than anticipated.

“As a result, we expect our full-year profits to be ahead of the profit guidance provided at our half-year results last September, where we said the most likely outcome would be a small loss or a small profit for 2020/21.”

The Partnership will publish its full-year results on 11 March.

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