Oliver Bonas secures £3.5m through Covid-19 business interruption scheme
Oliver Bonas has obtained £3.5 million of additional funding from HSBC UK as part of the Coronavirus Business Interruption Loan Scheme.
Having also accessed the government’s furlough scheme due to its stores being closed during the Covid-19 lockdown, the retailer has been using the funds to help manage cashflow and shift its operations to online.
Oliver Bonas has continued to trade online throughout the pandemic and has now reopened half of its 80 UK stores due to the lifting of lockdown restrictions on 15 June.
Oliver Tress, founder and chief executive of Oliver Bonas, said: “The last few months have been extremely challenging but I’m very proud that we have been able to trade safely online and support our team throughout. It’s exciting to see some of stores open their doors again and we have worked hard to make sure that our team, and our customers, can shop safely post-lockdown.”
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