StockMarketWire.com - Landscape products group Marshalls said up to 400 jobs could be impacted by restructuring plans after its sales slumped 27% in the first fourth months of the year.

Sales for the four months through April fell to £131m, down from £180m on-year.

Marshalls said restructure proposals included selective site closures, changes in shift patterns and proposed changes to the size of support functions.

'There are potentially up to 400 positions representing 15% of Marshalls total workforce, that may be impacted as a result of these proposed changes,' the company said.

'We are reopening our plants as demand returns.'

'The nature of the concrete manufacturing process means our facilities have low re-start time and cost requirements.'

'This flexibility and our improved efficiency means that capacity will not be materially reduced by the proposed changes and we will continue to satisfy our customers' requirements.'

Marshalls also announced that it had signed final agreements with each of NatWest, Lloyds and HSBC for an additional £90m revolving credit facility.

The company had also been confirmed as eligible for the UK government's Covid corporate financing facility with an issuer limit of £200m.

In a brighter note, the company said it had seen daily levels of activity progressively improve in the early part of May.

Daily revenues were running at around 50% of the same period in 2019.

'At this time, it does not remain possible for the group to provide an accurate assessment of trading for the current year and accordingly all previous market guidance continues to be withdrawn,' Marshalls said.




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