JOBS have been saved at a furniture company which was prevented from going out of businesses by a coronavirus loan scheme.

Giatalia International Limited, which has branches on Brookside Street in Oswaldtwistle and Brunswick Street in Nelson specialises in providing luxury furniture and dining tables and chairs to retailers across the UK.

However, times have been hard for the company due to the pandemic closing most retailers who have cancelled furniture orders as a result.

Giatalia director Adam Lorgat said: “It hit us quite hard.

“To help keep as much cash in the business as possible, overall stock was reduced by cutting back on surplus supplies, prices were cut to help liquidate stock, marketing costs were significantly lowered and I didn’t take a wage.”

He added: “With retailers being closed, orders were postponed or cancelled until further notice as a result of Covid-19.

“We continued to sell to the end user on a small scale for a period of time, but it just wasn’t sustainable.

“Five members of staff were furloughed, and our entire operation came to a halt.”

However, the firm was saved thanks to a loan by the UK’s first app-based bank Atom which provided a £500,000 of funding through the Coronavirus Business Interruption Loan Scheme (CBILS).

The money has helped the firm not only survive, but to thrive and despite the tough times make plans to upscale to larger premises in a renovated Scholefield Mill in Nelson.

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Mr Lorgat said: “CBILS was our saviour!

“The new premises will accommodate a larger amount of stock and increase product lines for our customers.

“Holding greater stock naturally creates greater efficiency for retailers as they can order at short notice, which in turn means payments are received faster.”

Atom meanwhile has continued to lend both inside and outside the government backed scheme.

Atom director of intermediary lending David Castling said: “We’ve been working tirelessly this year to ensure businesses receive the support they need through CBILS.

“We understand this is a worrying and stressful time for businesses so we’re doing what we can to help.

“We’re delighted that Giatalia are among our first CBILS customers and we wish them a bright and successful future.”

To find out more about the Coronavirus Business Loan Interruption Scheme, visit: