Gerald Eve has repaid grants it received under the Coronavirus Job Retention Scheme in light of its performance over the past year.
During the first lockdown, the firm placed a small number of staff on furlough as part of moves to protect roles during the pandemic. Following the end of the financial year, the partnership has voted to repay the Treasury for the grants it received under the scheme. It has also confirmed that performance-related pay awards to employees were paid in full.
While final accounts for the year are still being compiled and yet to be audited, early indications are that the firm’s performance may well exceed that of 2019/20.
Simon Prichard, senior partner at Gerald Eve, said: “When faced with the uncertainty created by the onset of the pandemic, we were grateful to be able to access the government support that was in place to safeguard jobs. But in light of the firm’s resilience and financial performance over the past year, returning these grants is absolutely the right course of action and one of the more straightforward decisions the Partnership has had to make in recent times. This has been a difficult period in so many ways, but we are confident that our business will continue to operate effectively for the benefit of our clients.”