Rotala increases overdraft facility due to lockdown slump
Rotala has increased its overdraft facility with HSBC UK by £2.1million to help cope with the impact of lockdown. The business says it has seen an 85 per cent reduction in its passenger numbers since the start of the pandemic, although over the past few weeks, the business has started to see demand for its services increase as certain industries return to work and lockdown restrictions are eased.
“We’re operating in an uncertain world right now,” says Simon Dunn, CEO, Rotala. “Due to the coronavirus, we had to restrict our bus services to about 40 or 50 per cent of normal in accordance with the requirements of local authorities and the department for transport.
“The funding from HSBC UK has enabled us to even out the peaks and troughs of our cashflow whilst many of our customers are unable to travel.”