The “Corona” crisis: British Aluminium Scaffolding firm George Roberts ensures £1 million loan to survive lockdown
The British company based in Liverpool scaffolding supplier George Roberts ensured a £1m loan from Barclays bank to support cash flow issues during the lockdown.
The £38m-turnover firm used the government-backed Coronavirus Business Interruption Loan Scheme (CBILS), which was announced by Chancellor Rishi Sunak in March’20 as part of a £330m financial aid package for UK businesses.
George Roberts NW finance director Mark Roach said: “The lockdown caused a reduction in orders due to a reduced number of live projects. The loan guarantees liquidity and maintains a platform to ensure the business retains and even improves its status in the marketplace going forward”.
Graham Duckworth, Barclays Relationship Director said: “The loan has given George Roberts NW the financial headroom to get through this disruptive period and be ready to reopen fully when the time comes".
In its latest accounts, dated to 31st October’18, George Roberts NW recorded a turnover of £38.4m, up from £33.3m the previous year. The scaffolding supplier reported a pre-tax profit of £2.8m, an increase of £736,000 from the £2.1m profit in 2017.
The contractor has been trading for 28 years and supplies scaffolding products including aluminium beams.
Grow with
AL Circle
