Chartered accountants RPG and law firm JMW Solicitors have advised Manchester based LWC Drinks, on securing a multi-million Coronavirus Large Business Interruption Loan Scheme (CLBILS) facility from Natwest, enabling the business to resume its pre-Covid growth strategy as it recovers from the effects of lockdown.
LWC is the UK’s largest independent drinks wholesaler of beers, wines, spirits and soft drinks. A 40-year old business with its original founders still at the helm, it now operates 14 depots across the country, with more than 13,500 on-trade customers.
It supplies a wide range of businesses within the food and beverage and leisure space, including pubs and bars, hotels, restaurants, events and stadiums and purchasing groups, which have all been badly affected by the government’s lockdown measures.
RPG’s Group Director Chris Poston advised LWC in respect of the financial issues relating to the transaction and JMW Partner Scott Cameron and Associate Michael Atherton advised the wholesaler on the legal aspects of the transaction, along with Real Estate Partner Majid Mahmood.
LWC Managing Director, Ebrahim Mukadam, said: “There are many successful businesses like ours which have been unavoidably impacted by the pandemic and the subsequent lockdown. It’s very positive to have secured the CLBILS loan, which will enable us to right the ship. We have an ambitious growth strategy in place and we look forward to pushing ahead, continuing to support our existing clients while continuing to grow our customer base across the UK.”
Chris Poston, Group Director at RPG said: “We are very pleased to have been able to support our client in securing this very significant facility. We look forward to working with the team at LWC through the next stage of their businesses development.”
Scott Cameron, Partner and Head of Banking at JMW Solicitors, said: “We’re delighted to have supported LWC in securing a CLBILS facility as it normalises operations following a challenging period. It’s an excellent business with a strong track record and an extensive customer base, standing it in good stead as it implements its return-to-business and growth plans.”
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to businesses across the UK that have seen their cash flow disrupted as a result of Covid-19.