Genesco-owned UK footwear chain Schuh has boosted its funding after securing a £19 million financing facility from Lloyds. The funding was accessed via the UK's Coronavirus Large Business Interruption Loan Scheme.
The importance for brands of winning the PR battle during the coronavirus crisis can be seen from a study that shows 54% of UK e-shoppers are less likely to spend with brands that have behaved badly during the outbreak.
In an ocean of coronavirus-linked bad news, there was some good news from Schuh as the company said it has now reopened its website with rigorous measures in place and no employees being forced to work.
Thursday’s decision by Next to close its online retail operation temporarily could be a tipping point, an analyst said, with more retailers likely to follow suit as they respond to worker concerns over social distancing.