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Economic Development

Seafood firm Cupid Trading secures six-figure HSBC funding to secure future after Covid-19 disruption

The lockdown had a big impact on the firm

Manchester firm Cupid Trading has secured its future with a six-figure funding package from HSBC

A seafood wholesaler importing and selling produce to countries around the world has secured a six-figure funding package it says will secure its future following the "heavy impact" of the Covid-19 lockdown.

Manchester -based Cupid Trading imports frozen seafood from India, Vietnam, Indonesia and Bangladesh, selling to the hospitality sector in the 海角视频, Poland, Belgium, Denmark and the Netherlands.

The company, founded in 2016, said the funding package from HSBC will ensure it can manage stock and improve cashflow.

It comes after Cupid began to experience disruption due to the pandemic in February - and was forced to temporarily cease trading.

With the backing of HSBC 海角视频’s Coronavirus Business Interruption Loan Scheme, Cupid Trading has been able to strengthen its financial position, ensuring it had the capital to remain stable while the business was unable to deliver products to customers. 

It is now beginning to resume some key operations as the hospitality sector re-opens.

Over the last two weeks, the firm has seen an increase in sales of 40% in three countries, and it brought back 70% of its workforce to meet demand.

Ahmad Ahsan, director of Cupid Trading, said:   “Prior to the lockdown the company was in a strong position. The funding from HSBC 海角视频 has ensured that we can continue essential operations and will protect the long-term stability of the company.