St Austell Brewery has secured significant working capital from its three lenders – Barclays, HSBC UK, and NatWest – to ensure that it has the capacity to withstand the challenges of the Covid-19 pandemic and invest strategically for the long-term success of the company.
Chief financial officer Colin Stratton said: “We’re delighted to have secured our funding needs for both the short and medium term. As many businesses in the hospitality sector face increasing uncertainty as a result of Covid-19, and the consequences for the wider economy, this funding will enable us to look forward with confidence and underpin our plans for the future progression of the business.
“We can now continue to invest in our pubs and ensure that, when we emerge from this third lockdown, they are well positioned to meet the evolving needs of our customers. As a business, it’s vital that we adapt our offering to changes in the market and consumer behaviour, while still ensuring that we consistently deliver a warm welcome and great hospitality. This funding support will enable us to do just that.”