by Saul Leese
Stadium MK secures seven-figure loan deal
Milton Keynes exhibition and conference venue Stadium MK has secured a seven-figure Coronavirus Business Interruption Loan Scheme (CBILS) facility through Santander UK to meet cashflow issues, retain staff and plan future events as restrictions are lifted.
Stadium MK Group was established in 2004 to bring League football to Milton Keynes and also hosts a number of B2B and B2C events at its 3,420sqm Marshall Arena space.
The funding package also enabled Stadium MK Group to become the first venue in the UK to stage live professional sport – Championship League Snooker – on network television during lockdown. The deal secures the future of the majority of its 700 staff.
Pete Winkelman, chair, Stadium MK Group, said: “The timely and effective support from Santander has enabled us to get back to work and start delivering events again, helping Stadium MK and Milton Keynes to take the lead in post-Covid19 recovery. The tremendous support of Santander has helped us to complement the positive effects of the Government’s Coronavirus Job Retention Scheme by allowing us to keep most of our talented and dedicated staff together and minimise the level of redundancies that we have had to undertake.”
Jon Everitt, relationship director, Santander UK, added: “Stadium MK saw its revenues cease overnight as the outbreak of Coronavirus hit the UK. We were in touch with the team there to assess their options and we’re delighted that the business can start planning future sporting and hospitality events.” – Exhibition News
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