Mobile cocktail bar secures funding to plan future growth when the lockdown restrictions are eased
Oxford-based The Cocktail Service Ltd, a fast-growing provider of premium mobile bars for events and festivals, has secured £100,000 in new funding from Santander 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 – providing unique and tailored drinks for many of its existing global brands, including, Adidas, Facebook, Harrods, Quintessential Brands and Inception Group. The firm has also provided full bar management for leading festivals, food markets and celebrities.
Casey Small, co-founder, The Cocktail Service said: “Santander has been brilliant, and easy to work with – very smooth throughout the process, so thank you very much for that.”
Robert Pounds, relationship director, Santander UK, said: “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.”