Premier Investments stores to remain closed until mid-May

Premier Investments stores to remain closed until mid-May

All of Premier Investments' (ASX: PMV) stores will remain closed until at least 11 May 2020, extending the period of closure by three more weeks.

The decision to leave Dotti, Portmans, Jacqui E, Jay Jays, Peter Alexander, Smiggle, Jay Jays and Just Jeans closed for the extended period of time is in line with current health guidance from the Federal Government.

"Our decision to temporarily close our retail stores is consistent with the clear message reiterated by the Prime Minister that the population should only leave the house when it is absolutely necessary to go out," says Premier Investments.

"Whilst our seven brands do sell much loved discretionary products, it is irrefutable that we are not an essential retailer."

Previously announced stand downs of Premier Investment employees will continue during this period. The company has already taken steps to access JobKeeper subsidies in Australia and the Wage Subsidy Scheme in New Zealand for all eligible employees.

Premier Investments says it will continue to not pay any rent globally for the duration of the shutdown.

The company says it is trading well online in Australia and looks forward to being able to begin trading online in New Zealand from 28 April when the country moves from Level 4 shut downs to Level 3.

"We are continuing to monitor all developments closely," says Premier Investments.

"Premier, with the support of all our employees, will overcome this global health pandemic and bounce back and thrive at the earliest opportunity."

Updated at 2:11pm AEST on 21 April 2020.

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