A Manchester-based seafood wholesaler has secured a six-figure funding package from HSBC UK to ensure it can manage stock and improve cashflow after being heavily impacted by the lockdown.
Cupid Trading imports frozen goods from India, Vietnam, Indonesia and Bangladesh, and sells to customers in the hospitality sector in the UK, Poland, Belgium, Denmark and the Netherlands.
It also provides seafood buying consultancy and sourcing services through its offices in the Far East.
The company began to experience disruption due to the pandemic in February and was forced to temporarily cease trading in line with lockdown restrictions.
However, after securing CBILS backing it has been able to strengthen its financial position and is now beginning to resume some key operations as the hospitality sector re-opens.
Director Ahmad Ahsan said: “Prior to the lockdown the company was in a strong position. The funding from HSBC UK has ensured that we can continue essential operations and will protect the long-term stability.
“We can now plan ahead and play our part in restarting the exporting to EU, hotel and restaurant industry.”
Darren Martin, relationship manager for Greater Manchester, HSBC UK, added: “With over 25 years of experience in seafood, Cupid Trading has been able to establish itself as one of the most respected names in its industry. We look forward to seeing the business recover from this difficult period and continue to grow.”