Heavitree Brewery Plc
COVID-19 update
Heavitree Brewery PLC (the “Company”) trades as a tenanted pub estate.
Following the Company's recent announcement of its year end result for the
financial year to 31 October 2019, the Company has continued to perform in
line with its expected budgets.
However, in very recent days, following the Government's announcements, our
tenanted estate has experienced a decline in sales, although as a fully
tenanted estate at this stage we do not have like for like figures.
Accordingly, having engaged closely with our tenants, the Board anticipates a
material deterioration in the estate's performance over the coming months.
Given the high level of current uncertainty it is not possible to quantify at
this stage the precise impact on our Business as a whole.
Therefore, to minimise the impact of COVID-19 and to preserve cash, the
Company is taking appropriate action to remove non-critical costs from the
business.
The Company is working closely with its tenants to interpret the daily
announcements from Government and how this assistance might best be utilised
as well as offering direct help with the immediate deferral of rent payments.