Preston landscape specialist geared up for end of coronavirus lockdown after securing loan

Preston based business GSU Landscapes today announced that it has received support from Barclays through the Government backed Coronavirus Business Interruption Loan Scheme (CBILS) in order to maintain the ability to trade through the COVID-19 crisis.
By Tim Gavell
Published 14th May 2020, 11:45 BST
Updated 15th May 2020, 16:04 BST
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Established in 1995, GSU Landscapes is a professional landscaping practice that works with national house builders, as well as private work and arboriculture.

However, with the shut down of the construction industry in recent weeks, the business was faced with a shortfall of cash to cover essential operating costs.

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In addition, the skilled workforce meant GSU Landscapes Director, Dominic Munro was reluctant to let staff go and wanted to pursue the Government furlough scheme, presenting new challenges to cash flow.

Preston based GSU Landscapes is geared up for action after the coronavirus lockdown endsPreston based GSU Landscapes is geared up for action after the coronavirus lockdown ends
Preston based GSU Landscapes is geared up for action after the coronavirus lockdown ends

Working with Barclays, GSU Landscapes have secured funding through the Government backed Coronavirus Business Interruption Loan Scheme (CBILS), as well as capital repayment holidays on their existing Barclays connections.

This will enable GSU Landscapes to retain their 60-strong team of staff and to be able to almost instantly gear back up the moment the property sector resurges.

Dominic Munro, Director of GSU Landscapes, said: “We run a good business, have 60 staff and a strong business model. However, due to Covid-19, we only had enough surplus cash to last another month.

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"I approached Barclays around the Coronavirus Business Interruption Loan and from there it all happened very quickly and they really pushed it forward.

"This loan has ensured that we can pay our employees, as well as pay our suppliers – some of whom I’ve dealt with the entire time I’ve been in business and have a massive personal relationship with. I’ve been with Barclays 14 years to the day and they’ve always been there to support me.”

Tom Procter, Barclays Relationship Director, put together the funding package for the deal and said: “Dom has developed GSU Landscapes into being a thriving and successful business and I am delighted that I have been able to personally help him bridge the cashflow during this pandemic.

"With Barclays’ support and the ongoing leadership by Dom and the team, I am very hopeful of GSU’s ability to resurge bigger and stronger than ever.”

Related topics:BarclaysGovernmentPreston