Events company retains staff and plans diversification thanks to HSBC funding

Events company retains staff and plans diversification thanks to HSBC funding

Essex-based Freedom Weekends, an events and travel booking company, has received a six-figure Coronavirus Business Interruption Loan Scheme (CBILS) loan from HSBC UK to protect jobs and to help the business continue trading during the winter period.

The six-figure funding from HSBC UK has provided vital support to Freedom Weekends, helping to cover business costs, secure jobs and avoid staff layoffs while the Coronavirus pandemic severely impacted the travel industry. The funding will also help the company invest in a new development project, where it is looking to diversify into party houses which are set to become increasingly popular for stag and hen parties; particularly as we look ahead to a post-Covid environment.

Mike Wood, Founder and CEO of Freedom Weekends said: “The last six months have had a huge impact on the direction of the business and I anticipate that the next few months will continue to be challenging, as we enter the slow winter trading period. It was vital to retain our excellent staff, who are longstanding employees and have invaluable knowledge of the industry and business. With pre-bookings up 94% for 2021, I believe we’re in a strong place, thanks to the support from our Relationship Manager at HSBC UK, Akel Al-Ansari, to recover and feel confident that we will bounce back.”

Jeff Richards, Area Director for North London Business Banking, HSBC UK, commented: “Freedom Weekends has quickly risen as a leader in its industry and the teams flexibility and determination to weather this period has further proven its strengths. It’s fantastic to see the company adapting and beginning to take bookings once again.”

Founded in 1996 in Essex, Freedom Weekends is a leading events, party, and travel planning company, specialising in stag and hen parties as well as birthdays and events. The company has seen significant growth over the past 24 years and has established itself as a market leader, serving around 30,000 clients every year.