Oxford-based The Cocktail Service Ltd has secured £100,000 in new funding through the Coronavirus Business Interruption Loan Scheme (CBILS).
Established in 2009 by three friends, the business had increased its annual turnover by around 60% over the last two years, and had begun running bespoke event bar solutions in excess of 600 events per year in the UK including full bar management for 17 festivals.
The funding will enable The Cocktail Service to retain its bartenders and mixologists as well as ensure it is able to meet short term running costs.
The business is readying itself to resume once UK lockdown restrictions are lifted.
Robert Pounds, Relationship Director, Santander UK who organised the loan, comments: “The hospitality sector is facing one of the most challenging times as the outbreak of Coronavirus has swept the UK.
“In spite of the uncertainty, the team at The Cocktail Service is planning for the future to ensure the business can continue building on the strong growth it has developed in the last decade once the lockdown restrictions are lifted and events recommence.”