A leisure resorts company that had to close its parks following the Covid-19 outbreak has secured £2.5m funding from HSBC UK to safeguard its long-term future.
Sheffield-based Coppergreen Developments provides accommodation in lodges and hotels for long-stay or short-break holidays in countryside locations.
It runs four resorts in Dundee, Thirsk in North Yorkshire, Kenwick in Lincolnshire, and Clumber in Nottinghamshire.
As a result of the coronavirus pandemic, the resorts had to shut down, leaving the business with zero income.
The funding from HSBC UK will ensure the company can cover its running costs and retain its staff until the holiday parks are able to reopen again in the future. Coppergreen Developments has implemented the government's furlough scheme for 360 of its 400 employees.
Donna Copley, financial director at Coppergreen Developments, said: "We initially feared that Covid-19 would mean permanently closing our holiday parks. However, thanks to HSBC UK's support, we have been able to secure the future of the company and ensure that hundreds of our employees will be taken care of while the furlough scheme is in place. "I believe our business now stands a very good chance of surviving this crisis and I must thank Chris and the team at HSBC UK for their efficiency, understanding and support in getting this loan through in these difficult times." Chris Alsop, relationship director at HSBC UK, added: "Coppergreen Developments has established itself as one of the most respected names in the leisure resorts industry in the UK and we're happy to support the future of the business despite these unprecedented times. We look forward to seeing the business not only recover from this difficult period but continue to grow when its four resorts are able to safely reopen."
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