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British housebuilder Redrow furloughs 80% of workforce

Reuters | London | Updated: 09-04-2020 13:09 IST | Created: 09-04-2020 12:04 IST
British housebuilder Redrow furloughs 80% of workforce
Representative Image Image Credit: ANI

UK homebuilder Redrow said on Thursday it has put 80% of its workforce on government-sponsored furloughs amid the coronavirus pandemic and has been approved as an issuer in the government's emergency COVID financing scheme.

The company said it would have access to 300 million pounds ($371.61 million) in additional funding under the government's scheme (CCFF) and was also in negotiations with its banks to raise existing credit facilities by 100 million pounds. ($1 = 0.8073 pounds)

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