Burberry repays Bank of England’s £300m Covid loan

Burberry fabric

Burberry has repaid a £300 million loan from the Bank of England, underlining the growing gulf between the corporate haves and have-nots.

The luxury fashion house repaid the money from the Bank’s Covid Corporate Financing Facility (CCFF) in recent days — helped by a strong recovery in online sales and demand in China. It will also repay about £7 million of business rates relief — a tax break handed to high street retailers.

Read the full story on The Sunday Times.