Business
Update and CBILS loan
Update and CBILS loan.
About this update from Roadside Real Estate Plc
[{"type":"text","content":"\n \n \n RNS Number : 6864T\n Barkby Group PLC (The)\n 22 July 2020\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.\n \n \n \n \n \n 22 July 2020\n \n \n The Barkby Group PLC\n \n \n (\"Barkby\" or the \"Company\")\n \n \n \n \n \n Update and CBILS loan\n \n \n \n \n \n The Barkby Group PLC (AIM:BARK), the diversified business group, provides the following summary of trading in its divisions. The Company also announces receipt of a £1m loan from HSBC under the UK Government's Coronavirus Business Interruption Loan Scheme (\"CBILS\") which was arranged with support from finnCap's Debt Advisory team. The CBILS loan provides the Company with added liquidity to support, in particular, the Hospitality and Consumer division after a period of severe disruption due to COVID-19.\n \n \n \n \n \n Operational Highlights:\n \n \n \n ·\n Commercial property division\n \n \n \n \n o \n Hastings construction now finished with formal 'practical completion' certificate expected by mid-August\n \n \n o \n Enhanced planning consent at Saffron Walden expected by September\n \n \n o \n Planning permission for 20,000 sq. ft. mixed use retail and trade scheme received at Wellingborough\n \n \n \n \n ·\n Hospitality and Consumer\n \n \n \n \n o \n Barkby Pub's positive start to 2020 interrupted by COVID-19 lockdown\n \n \n o \n Immediate reduction to cost base including furloughing of pub staff and business rate exemptions\n \n \n o \n Structural and operational changes implemented, including reduction in suppliers, renegotiation of key supplier contracts, new room reservation system and redesign of pub websites\n \n \n o \n Refurbishment of The Rose and Crown at Ashbury now complete\n \n \n o \n 300% increase in Workshop coffee online business partially offsets fall in B2B wholesale volumes, which are now showing signs of recovery\n \n \n \n \n · \n Life Sciences\n \n \n \n \n o \n Acquired exclusive design and intellectual property rights for sleep dev...