RETAILER WH Smith has warned of a "significant hit" to its business since March as the lockdown impacted on its travel outlets in railway stations and airports and many of its high street stores.
The group, which has shops in Broughton, Chester, Mold, and Wrexham said total revenues plunged 85% in April, with sales crashing 91 per cent across its travel arm and 74 per cent in its high street chain.
Carl Cowling, group chief executive of WH Smith, said: "Since March, we have seen a significant impact on our business as a result of coronavirus, with the majority of our stores closed around the world.
"We were fast to react to the situation and issued new equity via a placing, raising around £162 million on 6 April 2020.
"We also secured an additional £120 million of bank funding.
"We are a resilient and versatile business and with the operational actions we have taken including managing costs and the new financing arrangements, we are in a strong position to navigate this time of uncertainty and are well positioned to benefit in due course from the normalisation and growth of our key markets."
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