City Chic Collective Limited (ASX: CCX) notified the market about COVID-19 update, key highlights.
- City Chic possess negligible amount of net debt and substantial headroom in $40 million of debt facility. The facility matures in February 2023.
- Initiated a staged re-opening of stores in New Zealand and Australia.
- Online sales contributed two-thirds of global sales.
- In Australia, CCX is eligible for the JobKeeper payment subsidy and in New Zealand, for the Wage Subsidy Scheme.
- Attained cost efficiencies by lowering rents as agreed with landlords.
CCX last traded at $2.64 (AEST 12:15 pm), up 8.197 per cent, on the ASX.
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