Luxury interior furnishings group Walker Greenbank has announced that it has received its second interim insurance payment of £3.2m following last year’s flood at its factory in Lancaster.
The ongoing insurance claim saw the company receive £8m back in March this year and is expected to get a further £0.8m, as well as other payments, in the near future as restructuring work continues.
The company suffered a devastating flood in December 2015 at its Standfast & Barracks premises and has confirmed that full production has ‘almost’ returned to the site.
Since the flood, Walker Greenbank has installed new digital printers, which has benefited the business with faster production rates, while ‘good progress’ has been made in the fulfilment of backlogged printed fabric orders.
In a statement, the company, whose brands include Sanderson and Morris & Co., said: “This second interim insurance payment is in respect of damage to business assets and loss of profits. The Company’s insurance policy covers flood damage and business interruption until December 2017.”