Ten Entertainment Group has stated it has “strong plans” in place for maintaining financial viability in the coming months, despite being forced to close all FECs and delay its latest preliminary financial statements.
Following a 12.7 percent uptick in sales for the 11 weeks to 15 March, the company noted both a cash balance of £25m and “generous fiscal support” from the government will ensure the company is “ready when the time comes.”
“It is hugely disappointing to be instructed to suspend operations forthwith, in our role to keep the nation’s families entertained,” said chairman Nick Basing. “But we live in extraordinary times where the health of the nation always comes first.”
“Our business has been growing year on year for eight consecutive years. It is strongly supported with relatively very low levels of gearing and a conservative balance sheet. We look forward to welcoming our customers back and have no doubt that the need among friends and families will be stronger than ever.”
The group also confirmed plans to retain as many employees as possible, supported by significant contributions from the government.
“We are committed to securing their jobs and income for the future and have strong plans in place,” aded CEO Duncan Garrod.