New Chapter in our History
The novel coronavirus is an emerging pathogen and the situation is constantly
evolving. For the most up to date information, please refer to Centres for Disease
Control and Prevention (CDC), World Health Organization or your local health authority.
Lucknow (Grey Bruce Public Health).
Now more than ever trust and close relationships with our team and clients surpass
position/title. No body has experience or expertise in managing under these current
circumstances. We encourage you to take the time for self care and be grateful for
your family, friends and colleagues.
IWTB recognizes that after 6 years in serving our community we are a vital part of the Lucknow downtown supporting tourism, supporting local and supplying a much needed service in the retail sector. In order for IWTB to continue operations and prevent us from closing our doors permanently our cash flow contingency plan must be applied.
When putting our operating systems in place we did not plan for a Pandemic.
IWTB is a community based business that has maintained operations based on consignor and consumer cash flow to maintain expenses. The Covid 19 shutdown came at the most vulnerable time in the season. IWTB does not have accumulated funds to guarantee payouts should all consignors put in requests at one time. During this unprecedented time and to ensure the survival of our operations we have put in place a contingency cash flow plan in reflection of our contract agreement that will allow funds on active accounts to remain the property of our consignors and not necessarily be consumed by the business as pertaining to the "closer clause" in the agreement.
"If for unforeseen reasons IWTB should terminate this agreement due to closure all funds accumulated on accounts will be consumed by IWTB."
IWTB at this point falls just under the requirements outlined by the government in aid of support for small business relief programs.
IWTB recognizes that this situation has been difficult on everyone in many different aspects and the financial obligations we have to our consignors is very important to us. In order to not dissolve funds on all accounts and to rebuild our business we appreciate your support as we navigate through these times together.
Please click on our "Cash Flow Contingency Plan" for more information.