Cheadle based wine distributor, Boutinot Wines, has secured the future of 140 jobs at the firm, after securing a seven-figure finance deal with HSBC.
Boutinot has seen significant increase in orders from supermarkets and retailers, however the business has been affected by the closure of the hospitality sector during lockdown. The finance package will allow the wine distributor to restock hospitality customers, and bring staff at the Cheadle firms own vineyards in Sussex back from furlough.
Michael Moriarty, Commercial Director at Boutinot Wines, said:
The drinks industry has obviously been heavily impacted by Covid-19 and we have been reviewing ways of adjusting since the lockdown came into effect.
“HSBC UK has been incredibly responsive throughout this difficult time and helped us continue trading safely.”
Ben Clarke, Relationship Director for HSBC UK, Corporate Banking, Manchester, added:
We’re delighted to support Boutinot throughout this turbulent period of trading and have been impressed with the rapid response of the business to this crisis.
“Hospitality remains one of the UK’s most economically affected sectors but it’s reassuring to know that long term futures can still be supported.”
HSBC had previously financed Cheadle drinks distributor Boutinot’s investment in its vineyard in Hastings, which produces 20,000 litres of English sparkling wine annually.