Roofing and cladding firm secures CBILS funding to continue trading

A specialist sub-contractors in the industrial distribution warehouse sector, has secured a funding packag from Barclays to support the business through the current climate.

Walsall-based IRC Carocelle, has landed CBIL funding to help it pay suppliers and staff.

The business, which was established in 2004, provides roof and cladding solutions for the industrial, education, retail, commercial and leisure sectors across the UK.

Steve Holder, managing director of IRC Carocelle, said: “Whilst the country as a whole, deals with the pandemic crisis, our business along with the vast majority of others are having to brace ourselves for an inevitable slowdown in trading, which in turn shall result in an almost certain negative effect to the balance sheet and cashflow.

“Planning ahead, this funding allows us the time to adapt the business model to continue operating whilst dealing with the Covid-19 virus and in preparation for the challenges facing the world post-pandemic”

Mike Corcoran, relationship director at Barclays in the Black Country, said: “The management acted quickly to assess the impact on trading and approached me so we could begin discussions on what level of funding might be required. The CBILS loan will enable the company to weather this uncertain time and react when things return to a degree of normality.”