Sunday, September 27, 2020

Bounce back funding sees business resume for Derbyshire hospitality firm

Drink Eat Sleep, a Peak District-based hospitality business comprising three pubs, can reopen its doors after securing funding from Barclays via the Bounce Back Loan Scheme.

Despite being fully booked up on Mother’s Day early this year, with over 1,200 bookings across their three sites, the business was forced to close its doors and missed out on trading on its busiest day of the year.

Since then, the sites have remained close for three months, unable to take in business due to their remote locations.

Shaun White, Director of Drink Eat Sleep, applied for funding from Barclays through the government-backed Bounce Back Loan scheme, which successfully helped to ease the pressure on the business’ cash flow and allowed the business to retain all 55 of its staff.

With a view on the future, the business also invested heavily into ensuring each site could safely open to the public.

“It was a hectic week, preparing to reopen three sites after being shut for three months. However, we had a good time and lots of the locals came down to support the reopening,” said Mr White.

“Whilst we’ve lost 25-30% of our capacity, the key is to make our customers feel safe. I think it’ll be a slow start, but with a decent summer we should be in a good position and our rooms are already fully booked. Thank you to Barclays for being so accommodating.”

Jack Winnard, Barclays Business Manager, who put together the funding package for the deal, said: “I am delighted to support Shaun’s business during these unprecedented times.

“In what has been a difficult time for the industry, the funds have allowed the business to survive and I wish them a successful reopening over the next few months.”

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