Today's South West business news from Insider |
Latest News | SRT Marine Systems, a provider of maritime surveillance, vessel tracking, monitoring, management and safety systems, is looking to raise up to £7m as part of its Covid-19 resilience plan.
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Given the fanfare for the announcement of the Coronavirus Business Interruption Loan Scheme (CBILS) and the demand for funding from businesses impacted by Covid-19, Paul Stout, corporate finance partner at PKF Francis Clark, explains that it should not be a surprise that some of the relationship managers at the high street banks were reporting that in the region of 30 per cent to 40 per cent of their customers were looking at CBILS.
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WH Smith has raised money through the issue of shares and secured new banking facilities as it responds to the coronavirus crisis. Year-on-year revenue for April is expected to drop by 90 per cent and the retailer is taking action to reduce operating costs and reduce capital expenditure.
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IPO activity has been "severely impacted" by the reduction in oil prices and the Covid-19 crisis, creating "the most turbulent market conditions since the financial crisis in 2008", according to EY.
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easyJet has borrowed from the Covid Corporate Financing Facility and drawn down on its revolving credit facility in order to increase its liquidity in the event of a prolonged grounding of the fleet.
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Department store chain Debenhams has filed a notice of intent to appoint administrators.
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An SME which provides digital textbooks has offered its services to millions of university students for free.
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A rural insurer in Cornwall has appointed a new chair to its board of directors.
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Haven has revealed plans to prolong the closure of its holiday parks due to the ongoing coronavirus pandemic.
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Properties at a harbourside redevelopment in Cornwall have been put up for sale.
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Business rates experts at Colliers International are calling on the Treasury to close a loophole that may make it difficult for small companies in serviced offices to access government grants.
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Industrial take up in and around Bristol during the first quarter of 2020 was up on the same period last year.
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The Federation of Master Builders (FMB) has called for more support to be given to UK construction firms following a steep decline in activity caused by Covid-19.
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Cornish gin distiller Tarquin's has switched production from spirits to hand sanitiser and will supply it to frontline workers for free.
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Member Exclusive News | A Somerset-based Land Rover Defender restorer has experienced an uplift in enquiry amid Covid-19 outbreak.
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