A Redditch-based company that developed PPE amid the coronavirus crisis has secured a finance facility from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS). The company, which manufactures ‘high vis’ and protective clothing for customers across the UK in the construction, transport, rail, retail and engineering sectors, has used the funding to continue to operate throughout the pandemic.
“When the lockdown came into effect we were faced with an overnight decline in business of around 80 per cent. We made the decision to diversify to provide much needed PPE supplies for sectors where equipment had already been diverted to frontline healthcare workers,” said chairman Ian Jukes.
The funding has also enabled the business to meet the growing demand for PPE products and to develop new lines including a hand sanitiser range, as well as sourcing innovative face masks for its growing distribution network.
“The facility from HSBC UK enabled us to sustain trading and to continue to support our customers and suppliers throughout the period. Our hand sanitiser range is produced in the UK and we’ve seen the demand for this product continue from both new and existing customers,” Ian added.
“It will become part of our core range and we’re now looking to develop our products further to meet the shift in demand with a hand sanitiser station already in development. We’ve also seen increased demand from our customers for the Pulsar AirGill Face Masks and Pulsar bamboo snoods, with sales increasing substantially over the last few months.”
The funding is in addition to overdraft and trade line finance facilities already in place from HSBC UK.
“We were pleased to be able to support the team at Pulsar as they navigate this period of uncertainty. The core business has already started to show strong signs of recovery following the lockdown period, and the additional finance facility will not only support the business as it continues to meet increased demand from customers but also as it looks to develop new product ranges to meet changing customer and industry requirements in the future,” commented Mark Lupton, HSBC UK Greater Birmingham area director.