Client:
Our client’s family-owned business has been in existence for over 18 years providing access to value for money, as well as quality entertainment. Having been unable to secure the support of their bank, the clients approached Goodman Corporate Finance to seek funding for their latest project, a new cinema in Minehead, North Devon to complement their existing sites in Frome and Burnham on Sea, Somerset. This project saw the conversion of a large former retail store into a new 3-screen cinema providing welcome entertainment to the local community and tourist trade.
The Deal:
This deal was not the most straightforward deal in the world with a difficult property to value. By working closely with the client and a range of funders, our very own Chris Preston conducted a market-wide search of our lending panel and was able to arrange a blend of finance options which included both secured debt and asset finance which enabled the cinema to open on time and within budget.
Success!
The new cinema complex is a testament to our client, S & B Cinemas Limited and provides both the local community and the busy tourist trade with a welcome “all year round” attraction.
Quotes:
Chris Preston commented:
“It was a pleasure to work with Pat & Beryl and the team at S & B Cinema’s to help bring this idea and project to fruition. I am proud of the small part we played in helping this project become a reality for both the community of North Devon and our clients.”
Pat & Beryl Scott owners of S & B Cinemas commented:
“After being let down by our bank, we were pleased to be introduced to Chris and the team at Goodman Corporate Finance. They were very professional and kept us informed of progress at all times. We would happily recommend them to anyone looking for finance for their business”
Sam Roberts from Propel Finance commented:
“It was a pleasure to collaborate with Chris from Goodman Corporate Finance to secure a great deal for the customer. Nothing was ever too much trouble and working with Chris made the process very seamless and efficient. I look forward to working with Chris again in the future.”