Kitchen worktop firm taps into loan scheme

A Fife firm which manufactures granite, stone and marble kitchen worktops has secured a six-figure funding package from the Bank of Scotland.

Kirkcaldy-based Granite Systems, which sells directly to private clients, wholesalers and housebuilders across the UK, saw orders come to an immediate halt after Covid-19 lockdown restrictions were imposed.

The firm was forced to close its two factories and the workforce of 34 was placed on furlough.

After a management review of the situation, Granite Systems applied for a six-figure loan through the Coronavirus Business Interruption Loan Scheme from the Bank of Scotland.

Peter Brown, managing director of Granite Systems Limited, said: “We had a feeling early on that the lockdown would last much longer than the initial three weeks, so decided to seek support to reduce the impact on our business.

“We felt very strongly about paying any outstanding invoices to support our suppliers, allowing us to maintain our relationships with them and be in a strong position for when we return to normal trading.

“Bank of Scotland provided us with support in just a week, which without it is likely we’d struggle to operate as usual when the lockdown is lifted.”

Mr Brown said a potential silver lining of the challenging trading situation is that people are looking at making home improvements after spending a lot of time in the house, which could generate a positive increase in business activity when lockdown restrictions begin to ease.

Louise Fraser, relationship manager at Bank of Scotland, said: “Covid-19 is impacting all Scottish businesses and their supply chains.”

A Granite Systems worktop.