At the height of the pandemic Fife commercial laundry firm Fishers lost 90% of its trade as lockdown closed scores of hospitality businesses.
In May 2020 the Cupar company made the difficult decision to immediately close its Perth laundry, with the loss of 84 jobs.
That year’s accounts show revenues more than halved to £17.4 million and it recorded a £3.6m pre-tax loss.
Fishers recovery
However, since the easing of Covid restrictions, Fishers is recovering.
Newly filed accounts for the year ending December 31 2021 show an increase in sales to £23.8m. Losses reduced to £1.7m.
More recovery this year led Fishers to announce in June that it was reopening its Perth plant, creating 80 jobs.
A Fishers spokesperson said: “Fishers’ financial results reflect the ongoing impact of Covid 19 restrictions on the hospitality sector in 2021.
“While we saw a welcome lift in revenues over the prior year, this was still nowhere near pre-Covid levels.”
Energy cost challenges
Founded in Aberfeldy in 1900, Fishers was sold to Canadian giant K-Bro in a £35m deal in 2017.
The business said energy costs and recruitment challenges were now its main challenge. It is driving efficiencies by investing in energy efficient machinery.
“While restrictions have largely been lifted, we now face a substantial change in market conditions with severely increased energy costs and recruitment challenges,” the firm said.
“However, we remain committed to supporting our customers, as we did through the pandemic.
“Fishers will continue to play an important role in the hospitality, workwear and cleanroom sectors going forward.”
As well as Cupar and Perth, Fishers also has facilities at Coatbridge, Livingston and Newcastle.
Each of its hospitality laundries has the wash power equivalent of more than 500 domestic washing machines.
Conversation