Buoyant secures CLBILS funds
Upholstery manufacturer Buoyant has secured multi-million pound funding through the Coronavirus Large Business Interruption Loan Scheme.
The company, which employs almost 600 people, has secured a £2.8m loan through the Government-backed arrangement.
‘Buoyant Upholstery is a long-standing client which prior to Covid-19 was performing extremely well. The funding gives the business the additional headroom it needs and we’re confident the business will emerge stronger and continue on its exciting growth journey once normal trading resumes,’ says Steve Berry, Barclays relationship director.
‘We’ve been banking with Barclays for more than 20 years so I was delighted with the practical support they were able to offer once our manufacturing had been temporarily suspended,’ says Joel Rosenblatt, Buoyant chairman.
During shutdown the company’s sewing machinists were taken off furlough to produce 30,000 PPE gowns a week for the NHS.
‘Despite the challenges and with Barclays' support, as one of the largest manufacturers of upholstery in the UK, we had a lot of sewing capacity and a lot of capability to support the national effort. It has been an extraordinary period in our history, but I am proud of the dedication and resilience shown by our staff and we see this as our small contribution to the important work our healthcare professionals are doing on the frontline every day,’ says Mike Aramayo, Buoyant md.