Innovation back on the agenda at Scottish self storage centre
A family run self-storage firm’s investment in new technology that will help its customers and staff socially distance is back on track, with support from Bank of Scotland.
Red Squirrel Storage Centres offers indoor and outdoor storage containers and office space rental to Scottish consumers and businesses across two sites in Cumbernauld and Broxburn.
The business is introducing additional key safes, automated doors and a state-of-the-art camera system to give customers the freedom to access its indoor storage units securely, without staff assistance, 24 hours a day.
When the government mandated lockdown came into force on the 23rd of March, the fast-growing business saw new bookings drop off and its ability to meet customers in person restricted, creating significant pressure on its cashflow.
Red Squirrel Storage Centres made the difficult decision to pause ongoing investment in both its 20,000 sq. ft sites, furlough a proportion of its staff and introduce controlled periods of access for storage containers that customers could not gain entry to independently.
For support, the firm reached out to banking partner Bank of Scotland and secured a Bounce Bank loan within 24 hours of applying. With an improved working capital position, it can continue to honour commitments with suppliers and progress its planned onsite improvements.
The new technology also means Red Squirrel Storage Centres’ booking system can be operated remotely and its furloughed employees will be able to return to work sooner than initially anticipated, without the need for face-to-face customer interaction.
Bernard Dunn, managing director, Red Squirrel Storage Centres, said: “We’re an ambitious, fast -growing family business. We opened our second site in Broxburn in 2019 and have been working hard to keep up with customer demand ever since.
“When lockdown came into force, our ability to meet customers and do business was impacted and our onsite developments were put on hold. The Bounce Back loan is going to help us get these plans moving again, continue to grow the business during difficult times and, thanks to the technology we’re bringing in, let us safely bring staff back to work sooner than expected.”
Gavin Fleming, business banking manager at Bank of Scotland added: “Red Squirrel Self Storage is a great example of a successful Scottish business that had to pare back the services it offered customers thanks to Covid-19.
“The Bounce Back loan we’ve provided will give Bernard and the team the financial headroom to progress ambitious onsite improvements and help the business continue to grow and operate at full capacity, safely, amid social distancing.”
