(Reuters) - Suit and formal clothing maker Moss Bros (MOSB.L) said on Tuesday said it would restart its online operations with reduced staffing on May 13, after the government unveiled plans to gradually ease coronavirus-induced restrictions.
The company, which had closed its stores in March, said it was further lowering costs by cutting its board's pay by between 60% and 70%, tapping into government aid for job retentions and renegotiating rental agreements. (reut.rs/2xRfeSS)
Moss Bros also said that it was debt-free and has enough cash to continue trading through the second half of fiscal 2021 and beyond.
Reporting by Pushkala Aripaka in Bengaluru; Editing by Aditya Soni