- Funding through the Government鈥檚 Coronavirus Business Interruption Loan Scheme (CBILS) will help the business meet its financial obligations and prepare for the school season听
- Business closed until further notice on 23rd March after Government announced non-essential businesses should not remain open
- The family-run company has been supplying quality, affordable schoolwear for nearly five decades
Innovation Schoolwear, the family-run supplier of quality, affordable schoolwear, has agreed a 拢600k overdraft facility with Santander UK through the Government鈥檚 Coronavirus Business Interruption Loan Scheme (CBILS) to support the business during the coronavirus pandemic.听
The wholesale business, which is based in Tottenham and sells to schools and retailers, has 30 full-time staff and operates out of a London warehouse. 听It has been servicing the UK market for almost 50 years.听
After Government guidance that non-essential businesses should not remain open, trading came to a halt at a time when it would usually start to gain momentum amid preparations for the 鈥淏ack to School鈥 season. 听The overdraft facility provided by Santander UK will help the company to continue to prepare for the 鈥楤ack to School鈥 season.听
Samuel Cohen, Director at Innovation Schoolwear, said: 鈥淟ike many parents across the UK, we鈥檙e looking ahead to the time when schools can safely reopen. With Santander鈥檚 support and this facility, we can keep preparing for back to school season so that when the time comes, parents can make sure their children are ready to get back to the classroom. It鈥檚 great to see we have a very good and helpful banking partner鈥
Jo Spreckley, Relationship Director at Santander UK, said: 鈥淚nnovation Schoolwear has a long history as a successful business and we鈥檙e pleased that we can support it through these difficult times until children can safely return to school.鈥
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Notes to Editors听
Innovation Schoolwear contact:
Samuel Cohen, Director
P: 020 8887 8778听
E: samuel@innovation-trading.co.uk听
W:
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Lara Lipsey听听 听 听 听M: 07713 560 209 听听 听E: Lara.Lipsey@santander.co.uk听
Helen Needham 听 M: 07566 762 453听听 听E: Helen.Needham@santander.co.uk听
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