An interesting article, showing the time it can take to achieve “business as usual” when a business is hit by flood damage that significantly affects it’s premises and stock.
The article focusses on insurance payouts, but the real story for business continuity managers (and business owners) is the implied recovery times.
Luxury interior furnishings group Walker Greenbank has received a further interim insurance payment of more than £2m following a flood at its fabric printing factory last year.
The AIM-listed business said the latest payment, in respect to damage to business assets and loss of profits, adds to the £12.05m it has already received in its ongoing claim following the flood at Standfast & Barracks in Lancaster in December 2015.
A further, associated insurance payment of £225,000 is “expected shortly” ahead of more payments to be received in due course under the company’s policy, which covers flood damage and business interruption until December 2017.
The group said full production has returned to Standfast & Barracks and the restocking of printed fabrics at its Milton Keynes warehouse is almost complete.
Walker Greenbank, whose brands include Sanderson, Morris & Co, Harlequin, Zoffany, Scion and Anthology, earlier this month agreed to acquire wallpaper and fabric designer and manufacturer Clarke & Clarke in a deal which values the business at more than £40m.