Angling Direct update doesn’t hook markets

AIM-listed specialist retailer Angling Direct (LON:ANG) watched its shares fall by 16.13% to 26p (as of 14:55 BST) after providing an update on trading during COVID-19. Management said that sales had been solid up until the last week of March and online sales remained encouraging, but the company has taken out additional credit facilities due to the closure of all stores.

CEO Andy Torrance commented: “The retail environment has never before been in a position where it has had to deal with a crisis of this magnitude. Our focus remains on protecting our valued members of staff, ensuring appropriate and safe working conditions and, where possible, providing an uninterrupted service to our loyal and supportive customers. Like many in the retail community, we are also extremely thankful to UK Government for the support provided at this difficult time“.