The boss of JCB has revealed that digger orders ground to halt at the height of the pandemic, forcing the billionaire into furloughing thousands of staff and tapping the Government’s emergency loans scheme.
Lord Bamford expressed his shock after JCB stopped production as the pandemic hit. He said: “[In early March], my business went from having orders on hand of £1.5bn to by Mar 20, orders on hand of virtually zero. It was so dramatic. That sort of thing never happened in the history of our business before.”
The firm also tapped the Treasury’s Covid Corporate Financing Facility for a