Tuesday, November 24, 2020

Leicester photographic print supplier secures COVID support

Leicestershire photographic print supply firm, Tetenal UK, has secured a finance facility from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to support the business during the coronavirus pandemic.

Tetenal UK is a distributor of photographic and printing equipment, photo studio equipment and stationary.

The facility from HSBC UK not only supported Tetenal’s cashflow, allowing the business greater flexibility during the lockdown period, but also helped to ensure the business could continue to pay its suppliers.

Mike Fawcett, Managing Director at Tetenal UK, said: “Fifty per cent of our business is focussed on retail, and whilst we continued to trade throughout the lockdown period, we were obviously operating at a much reduced level.

“We’re now back operating very much ‘business as usual’, but the support from HSBC UK was extremely reassuring during a very uncertain period.”

Richard Parker, HSBC UK Relationship Director East Midlands Corporate Banking, added: “The last few months have been particularly challenging for the creative sector and we were pleased to be able to support the team at Tetenal UK, with an additional finance facility to help them navigate this period of uncertainty.

“We look forward to continuing to work with the team as they plan for the future and as they adapt to meet changing customer demands.”

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