HK Wentworth Group secures CBILS fuding
HK Wentworth Group has successfully secured Coronavirus Business Interruption Loan Scheme (CBILS) funding through Santander designed to assist SMEs during the current coronavirus pandemic.
HK Wentworth Group, a leading manufacturer of specialist chemicals, has international headquarters located in Leicestershire, UK and is the parent company of three well known brands with a global presence. The company, founded in 1941, is still privately owned by the Kingsbury family and has consistently achieved steep year-on-year growth in overseas sales with a turnover in excess of thirty million per annum. The company has a growing presence in over 55 countries and employs in excess of two hundred staff members worldwide.
During the current pandemic, some of HK Wentworth’s customers have experienced a decline, especially throughout Europe as many are currently closed and unable to progress existing projects. These customers in turn require continued support from HK Wentworth. The group’s subsidiaries, located around the world contribute largely to the overall group revenue and have also been hit by this global crisis and have experienced significant downturn.
There has, however, been an upturn in sales via one of the group’s brands and its highly effective Anti-Bac+ range of products including santising wipes and antibacterial hand rubs. Demand for these products during the current climate has predictably been very high and set to continue, requiring continual investment.
Ron Jakeman, managing director of HK Wentworth, comments: “The quality of advice received, speed of support and our long term partnership with Santander has proven invaluable, especially during the current conditions. Approval for the CBILS scheme allows the HK Wentworth Group to support its customers during this difficult time. There is a great deal of uncertainty ahead and businesses need to have confidence in ongoing financial support. The CBILS scheme will prove a valuable source of assistance enabling to the company and I would like to take the opportunity to personally thank both Santander and all of our dedicated employees for their hard work, enthusiasm and commitment in driving our business forward.”
Paul Elliott, relationship director, Santander UK, said: “A business that was born amidst the second world war, HK Wentworth Group is adept at operating during testing times. We are happy to support this business through this latest issue and look forward to working closely with the business as we edge closer to business resuming.”