Marshalls repays £9.4million furlough money
Marshalls, the landscaping products specialist, has repaid the £9.4million it received from the furlough scheme (the Coronavirus Job Retention Scheme). It says this is as a result of an improved outlook and stronger than expected trading position.
Martyn Coffey, Chief Executive of Marshalls PLC, says: “At Marshalls we aim to do the right things, for the right reasons, in the right way. It has always been our intention to pay back the furlough money if we were able, and I’m really pleased that we are in a position to do so.
"This has been a tough year for everyone but we’re encouraged by the strong demand for our domestic products as well as a quicker than expected recovery in commercial and public sectors. As always we have put the health and safety of our people first and I am very proud of how they have risen to challenges and worked in different ways to support our customers and partners.”
Throughout the pandemic, Marshalls topped up the salaries of those on furlough so they continued to get 100%. Those who could, worked at home.
As well as repaying the government, Marshalls has made sizeable donations to charity. Martyn: “Earlier in the year our board, executive and senior management agreed to a salary reduction [for themselves] to protect the business. As we are now in a stronger position than anticipated, we agreed that we can donate that money to MacMillan Cancer Support and MIND charities."
It decided those charities have been hit hard by the effects of the coronavirus this year.
Below. Marshalls Scoutmoor paving on London's Southbank.