Oliver Bonas secures 3.5 million pounds in funding

British fashion and lifestyle retailer Oliver Bonas has secured 3.5 million pounds in funding from HSBC UK to help support the company post-lockdown.

The funding is part of the Coronavirus Business Interruption Loan Scheme (CBILS) and aims to ease the financial strain on the retailer following months of its stores in the UK and Ireland being closed.

Half of the retailer's 80 stores across the UK have now reopened.

The company’s founder and CEO Oliver Tress said in a statement: “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. We’re very grateful for the support from HSBC UK in helping us to access vital funding when we needed it most.”

Paul Williams, HSBC UK corporate relationship director said: “Oliver Bonas is a great example of a successful independent British business and innovative high street retailer. As the retail industry begins its recovery from the impact of Covid-19 we are very happy to be able to support businesses like Oliver Bonas as they safely reopen shops and protect jobs.”

Photo credit: Oliver Bonas