Business

Cake Box records sales leap and will return furlough funds

Enfield-headquartered bakery chain Cake Box has cheered a sales leap and said it will repay furlough money.

The AIM-listed company said in the last three months, since the reopening of the estate, trading has been “very strong”.

It saw comparable sales growth of 14.1% in stores, and online sales were 74% higher than a year earlier.

The company, which closed stores for the Covid-19 lockdown and had most of the 133 branches reopened by June, saw high demand for birthday cakes and benefited from offering a delivery service via Uber Eats, Just Eat and Deliveroo.

Cake Box, led by Sukh Chamdal, said during the onset of Covid-19 in the UK, the firm utilised the Government’s Job Retention Scheme in order to protect jobs in an uncertain environment.

It today said: “Given the ongoing trading performance of the group, the board has taken the decision to repay the monies previously received under the Job Retention Scheme, amounting to £156k, and will make no further claims under the scheme.”