June 1, 2020 / 8:07 AM / 2 months ago

Primark has placed 'hundreds of millions' of pounds of new orders, says finance chief

LONDON (Reuters) - British fashion retailer Primark has placed “hundreds of millions” of pounds worth of orders with suppliers for seasonal autumn/winter stock, the finance chief of its owner Associated British Foods said on Monday.

John Bason said the move to restart orders followed Primark’s decision to open all 153 stores in England on June 15 as the country’s coronavirus lockdown restrictions are eased.

He said Primark had no plans to hold a fire sale of excess stock when stores re-open.

“What we will do, because we’ve got the financial wherewithal, we’ll carry it through to next year,” Bason told Reuters.

Reporting by James Davey; editing by Michael Holden

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