Manchester-headquartered drinks wholesaler LWC Drinks has secured a multi-million pound loan to resume is pre-Covid business strategy.
LWC, which has 14 depots across the country and more than 13,500 on-trade customers, secured a Coronavirus Large Business Interruption Loan Scheme (CLBILS) facility from Natwest as it recovers from the effects of lockdown.
In December, the wholesaler purchased a new £8.5m, 173,000 sq ft unit in Chadderton, Oldham to support its continued growth.
The business, which turned over £345m year for the year ending September 2019, up 15 per cent on the previous year, has enjoyed continued growth over the past five years.
LWC managing director, Ebrahim Mukadam, said: “There are many successful businesses like ours which have been unavoidably impacted by the pandemic and the subsequent lockdown.
“It’s very positive to have secured the CLBILS loan, which will enable us to right the ship.
“We have an ambitious growth strategy in place and we look forward to pushing ahead, continuing to support our existing clients while growing our customer base across the UK.”
Lockdown saw LWC temporarily switch business models to sell directly to consumer, while continuing to support its trade customers.
LWC was advised by JMW Solicitors.
Scott Cameron, partner and head of banking at JMW Solicitors, said: “It’s an excellent business with a strong track record and an extensive customer base, standing it in good stead as it implements its return-to-business and growth plans.”
