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- Australian furniture store Nick Scali (NCK) has temporarily shut its doors due to the coronavirus
- This announcement follows orders from the Government about social distancing and encouraging people to stay home
- Due to this, the company has stood down the majority of its retail employees
- Stores will be closed until May 1
- At this stage, distribution centres will continue to operate at normal capacity during April and May to support the delivery of customer orders
- Nick Scali is down 2.60 per cent on market close, trading at $3 per share.
Australian furniture store Nick Scali (NCK) has temporarily shut its doors due to coronavirus restrictions.
The company said the biggest priority is the health and wellbeing of its employees. Therefore Nick Scali is supportive of the move by governments, both in Australia and New Zealand, to prevent the spread of coronavirus.
Governments across both countries have introduced social isolation and distancing measures and encouraging people to stay home.
As a result of these measures and the increased risk for staff and customers, if the stores continue to operate, Nick Scali has decided to temporarily shut down until Friday, May 1.
Due to this, the company has stood down the majority of its retail employees.
At this stage, distribution centres will continue to operate at normal capacity during April and May to support the delivery of customer orders. Nick Scali will deliver existing orders.
“The decision we have made today to close stores and stand down loyal team members was not made lightly, but I believe it is the right decision for our people and our company in the long-term,” CEO Anthony Scali said.
“We thank our customers, suppliers, landlords and most importantly our team members for their understanding and support during this difficult time,” he added.
Nick Scali said it will continue to monitor advice from both state and federal governments in the jurisdictions, in which it operates.
Nick Scali is down 2.60 per cent on market close, trading at $3 per share.
