A Staffordshire-based brewery has secured a £1million boost to help the company to cope during the COVID-19 pandemic...
Titanic Brewery – who trade from their headquarters in Stoke-on-Trent, Staffordshire – have received a £1million boost from Barclays, via the government-backed Coronavirus Business Intervention Loan Scheme (CBILS), to help the company during the ongoing COVID-19 pandemic.
The Staffordshire brewery was founded in 1985, and employs more than 200 staff – producing in excess of three million pints a year, whilst operating 13 pubs and café bars across the county.
Director of Titanic Brewery, Keith Bott, commented:
“Coronavirus struck just as were moving into the busy spring season and suddenly all our income disappeared overnight.
“The bank loan has helped us to ensure supplier relationships are maintained as well as helping us to pay our staff and creditors.
“I think that it’s important during this difficult time to make sure our whole supply chain stays on their feet. As well as honouring our payment terms, it means we will all be better placed for when the time comes to re-boot our business after the crisis.”
Adam Edwards, Relationship Director at Barclays, added:
“It has been a privilege to be able to help Titanic Brewery to manage through the COVID-19 crisis. This iconic brand is not only loved throughout Staffordshire but also by beer aficionados nationwide.
“I was delighted when Titanic recently decided to put their trust in Barclays and myself, and we are determined to ensure that Titanic, as well as other local clients in our community, are still here when life returns to normal.
“Myself and the team have spent time getting to know the business, and when the group was impacted, our understanding of the business and our relationship with its owners made a huge difference.
“The new facility will secure valued jobs within the local community and provide vital liquidity to the business.”