Like all businesses, faced with the current circumstances, there are areas of our business that have seen a change in demand. Invariably people staying home, to protect the NHS has meant a decrease in the demand for fuel. While the convenience offering and demand for food and alcohol, in most locations, has seen an increase. As we’ve encountered the changes we’ve also made changes in the business to maximise on the opportunity that may exist. As part of this activity we have been running trials on a delivery service at some stores, introduced to help those staying at home by delivering daily essentials to them.
However the location of some of our stores and the 24/7 opening we operate at some stores is working against us currently. Therefore at some stores we have temporarily reduced our opening hours to better suit the flow of business currently. However where the demand is there some stores do remain open 24/7.
Where we have stores on main commuter routes the downturn in the need for fuel has also meant a downturn in the purchase of other goods from the convenience stores. It’s for this reason that we have taken the very difficult decision to temporarily mothball some of our sites. From today we have temporarily closed Tam O’Shanter, Armadale, James Street Carlisle, Pensby and Newlands and from Wednesday Sadberge will also temporarily close for business. These decisions have not been taken lightly as they have an impact on both our employees and our customers but they have been taken with a longer-term view of the overall business.
The situation currently is constantly changing and evolving and so is Penny Petroleum. We recognise that the issues faced currently are temporary and that things will change as we move forward. Our responsibility is to our employees, our customers and to preserving our businesses as profitable entities for the future. The mothballing of these businesses gives all parties the best opportunity to create value in the future.