Confectionery producer Calico Cottage secures coronavirus funding

By James Ridler contact

- Last updated on GMT

Confectionery producer Calico Cottage secures coronavirus funding

Related tags: coronavirus, Confectionery

Chocolate and fudge producer Calico Cottage has secured a six-figure funding deal with Lloyds Bank to help it continue its operations during the COVID-19 crisis.

The Haddenham, Cambridgeshire-based manufacturer took a hit when the Government’s lockdown saw many of the retailers it supplied closed. June would have also been one of the busiest periods of the year for Calico, as it prepared for Christmas.

Calico Cottage managing director Nigel Baker said that many of the company’s seasonal customers were closed or operating a reduced online offer, cutting off a major source of income. 

Reliance on seasonal orders

As a manufacturer of chocolate and fudge-making ingredients, we rely on income from people visiting shops and seasonal peaks like Christmas,”​ he explained.

“Thanks to Lloyds Bank, we now have the flexibility to start focusing on long-term orders and ensure that we can hold stock whilst working with customers to help them re-start and plan for Christmas. Having this support has been invaluable and we can now start preparing for what we hope will be a busy end to the year.”

The flexibility that the funding has afforded Calico will allow it to jump straight back into supplying for its customers when they reopen. Alongside the six-figure funding package from Lloyds Bank, via the Coronavirus Business Interruption Loan Scheme, Calico Cottage has agreed a six-month repayment holiday to support cashflow.

Cashflow needs

Stephen Clarke, relationship manager at Lloyds Bank, added: “For manufacturers like Calico Cottage, working months in advance is the norm, but they need to have a healthy cashflow in place to plan ahead.

“We are supporting businesses like this to ease the impact on their income during this challenging time, enabling them to continue trading and planning for the year ahead.”

Meanwhile, the ongoing coronavirus crisis has forced brewing giant Marston’s to agree £70m of additional liquidity​ through an increased bank facility, as it waits for pubs to reopen.

Related topics: Confectionery, COVID-19, Operations

Related news

Show more

1 comment

LOAN OFFER

Posted by Susan Benson,

Hello, are you in need of financial support? Do you need a loan?
I'm Susan Benson of Sunshine Financial Group, inc. I'm a lender and also a financial consultant.

We render all kinds of loan services (personal loan, business loan, mortgage loan and many others). We render both long-term & short term loans, secured and unsecured loans at an affordable interest rate of 3% per annual. If you are in urgent need of a loan, I will advise you to contact my firm. You can write to us via mail: sunshinefinancialgroupinc@gmail.com or Message us directly on WhatsApp or Telegram via: 00447903159998 & receive a response in an instant.

We are a comprehensive financial service company and we are committed to help you improve your long-term and short-term financial goals because your financial stability is our ultimate goal.

With what's going on around the world, A lot of people are facing untimely financial challenges, some of them are finding it so difficult to get a loan from their local banks or other financial institutes due to high interest rate, insufficient collateral, low credit score, debt to income ratio and many other reasons.

We can help you with a solution to your financial challenges, just write to my firm and we will help you out with a loan that best suits your needs. We have helped numerous individuals and organizations who have been facing financial difficulty all over the world. When you apply with us, you’re applying with a trusted company that cares about your financial needs, our utmost Priority is your financial stability.

For more information about our loan offer, kindly send us your loan request via:
Email: (sunshinefinancialgroupinc@gmail.com) OR;
WhatsApp: +447903159998
You can write to us anytime and anywhere.
We also buy and sell cryptocurrency (BTC/ETH).

Report abuse

Follow us

Products

View more

Webinars