// Boxpark breaks even in the year to April 2021 despite lockdowns
// Boxpark was able to retain most of its staff during the pandemic and has expanded its team
Boxpark broke even in the year to April 2021 despite all units being closed during Covid-19 lockdowns.
It posted £100,000 in pre-exceptional cash operating profits in the period, compared with £2.5 million in the previous financial year.
Group revenue fell 55% due to the company having only 22 weeks of trading during the periods of opening.
READ MORE: Boxpark preps to expand outside of London
Boxpark said it traded strongly in August 2020 as sales were supported by the Government’s ‘Eat Out To Help Out’ initiative.
By utilising the Government Coronavirus Job Retention Scheme, Boxpark was able to retain most of its staff and has now expanded its team.
“Thanks to our team, our traders and our loyal customers, we have survived one of the harshest economic conditions in history and have also just reached a very exciting milestone as a business with Boxpark’s 10-year anniversary,” Boxpark founder and chief executive Roger Wade said.
“We have a bright future ahead with multiple sites being secured across the UK and as a forward-thinking innovator in the hospitality and leisure sectors, we will ensure all current and new developments will have Covid-proof operations.”