Funding to secure jobs at manufacturer

Burton-based Knott-Avonride has secured funding from HSBC UK to support its working capital requirements during the Covid-19 pandemic.

The firm is a supplier of axles, brakes, cables, chassis and overrun couplings for trailers and industrial applications for both domestic and export customers.

Following the temporary closure of Knott-Avonride’s three sites in March due to the pandemic, the additional facility from HSBC UK will enable the company to continue to safeguard employment and give support during these uncertain times.

Neil Collins, director and company secretary of Knott-Avonride, said: “Protecting the employment of our 120 employees is of paramount importance to us, as is supporting our business during this critical time. The team at HSBC UK have been excellent to work with during this process and the additional facility provides us with the reassurance and flexibility needed.”

Jack Coley, relationship director, East Midlands Corporate Banking, HSBC UK, said: “At HSBC UK we are committed to supporting our customers during this period of uncertainty. With every business it’s important we are able to tailor the support required to meet the customer’s needs, and we were delighted to be able to support the team at Knott-Avonride with the additional facility.”