Wednesday, August 5, 2020

SIG to use coronavirus crisis as opportunity as it temporarily shutters sites

SIG, the Sheffield-headquartered supplier of specialist building materials, is temporarily closing its trading sites during the lockdown and aiming to create opportunity out of the crisis.

In response the Covid-19 crisis, the Group said it will keep its position “under daily review” as it temporarily closes its trading sites in UK and Ireland and seeks to develop and revise its organisational model.

Since initially announcing that it will “do what it can to trade as normally as possible within local government guidance” last week, the Group said that large parts of its UK market has seen sales “fall away rapidly”.

It has therefore made the “necessary and appropriate” move to temporarily close its Distribution and Roofing businesses in the UK.

Further restrictions imposed by the Irish Government introduced late last week, meanwhile has seen the Group suspend construction activity in the Republic or Ireland. Consequently, all Group trading sites in Ireland have also temporarily closed.

In a trading update, the Group said: “we will remain open to service critical and emergency projects, such as for the NHS, energy and food sectors, as well as for safety reasons and to ensure that there is an orderly closure programme.

“We will be reviewing Government guidance and measures to support business continuity, as well as market conditions, continuously and will re-open as soon as we can.”

The Group is aiming to create opportunity out of adversity created by the coronavirus crisis.

It will leverage the closure period as an opportunity to develop a revised strategy and organisational model designed to be “more sales-led, customer focused and responsive to local market needs”.

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