Business

Oliver Bonas secures £3.5m coronavirus funding

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The funding has been provided by HSBC UK and will help to support the business’s cashflow and its shift to online during the lockdown. 

Oliver Bonas operates 80 shops in the UK, which have begun to reopen since lockdown restrictions were lifted last week. 

Founder and chief executive, Oliver Tress, 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.”

Prior to lockdown the retailer had received a £15m revolving credit facility from HSBC with plans to open eight new UK stores. 

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