Brewery secures lifeline with £1m funding deal

Staffordshire-based Titanic Brewery is breathing a little easier after securing £1m from Barclays via the CBILS Government backed emergency loan scheme.

The brewery founded in 1985, employing over 200 staff, produces over 3m pints a year, operates 13 pubs and café bars across Staffordshire and sells directly into local supermarkets.

Keith Bott, company director of Titanic Brewery, said: “Coronavirus struck just as were moving into the busy Spring season and suddenly all our income disappeared overnight.  The bank loan has helped us ensure supplier relationships are maintained as well as helping us pay our staff and creditors.

“I think it’s important during this difficult time to make sure our whole supply chain stay on their feet.  As well as honouring our payment terms, it means we will all be better placed for when the time comes to re-boot our business after the crisis.

“On Monday, we’ll be doing our first brew since coronavirus hit us which we’ll be selling on our website and in the shops. We are glad that we can now keep our customers supplied until we can welcome them to the pubs for a pint when this is over.”

Adam Edwards, Barclays relationship director, said: “It has been a privilege to be able to help Titanic Brewery manage through the COVID-19 crisis.  This iconic brand is not only loved throughout Staffordshire but also by beer aficionados nationwide. I was delighted when Titanic recently decided to put their trust in Barclays and myself, and we are determined to ensure that Titanic, as well as other local clients in our community, are still here when life returns to normal.

“Myself and the team have spent time getting to know the business, and when the group was impacted, our understanding of the business and our relationship with its owners made a huge difference. The new facility will secure valued jobs within the local community and provide vital liquidity to the business.”