Consumer goods firm Ultimate Products will pay back over £450,000 of Government furlough money after the business' outlook became "much clearer".
The company, which is based in Oldham and owns, manages, sells and designs homeware products, said it will repay £465,237 that it received under the Coronavirus Job Retention Scheme, and that it will not make any further claims.
The firm, known for its Beldray cleaning products and Intempo audio goods, said the payments are possible due to its profitability and cash generation having been "stronger than expected" during the Covid pandemic.
Simon Showman, chief executive of Ultimate Products, said: “The furlough scheme allowed us to work through the significant challenges that Covid-19 initially caused for our business.
"We are grateful to the government and the taxpayer for providing us with this support. As a result of the outstanding resilience, hard work and professionalism of our people, the outlook for our business is now much clearer.
"Returning this money to the taxpayer is therefore the right and proper thing for us to do.
“As the effects of Covid-19 continue to be felt globally, and particularly in Oldham at the present time, we are determined to carry on supporting local charities and initiatives in order to help ease the hardship felt by many in the communities in which we are proud to operate.”
The group, which also has licence agreements with cookware firm Russell Hobbs and electrical and cookware brand Salter, said it would provide a more detailed financial update in its scheduled pre-close trading statement on September 7.
