Lakes Distillery will push ahead with its expansion plans this year, it has been revealed.
The whisky maker, based at Setmurthy, near Bassenthwaite, secured £3.5 million-worth of funding in March 2020.
The cash, from asset-based lending facility from Secure Trust Bank Commercial Finance, was to enable it to treble its production of single malt whisky.
However, the onset of the coronavirus pandemic meant Lakes Distillery had to put the brakes on the scheme.
This week, it was announced that the distillery had re-engaged with the lender and will press ahead to reach a 70 per cent growth in the production.
The business has also prioritised its ecommerce platform to capitalise on the restrictions caused by the pandemic.
The Lakes Distillery has seen an increase in ecommerce revenue of 180 per cent as compared to 2019, it said and two limited edition products have already sold out.
David Robinson, chief financial officer at The Lakes Distillery, said: “The past year has been incredibly difficult, especially for businesses in the hospitality and food and beverage sector.
“Having the support of the team at Secure Trust Bank has allowed us to push forward with plans that are essential for the growth of our business long term, such as our capacity expansion plans.
“We’re very pleased to see this begin to pay off with such a large increase in production year-on-year expected in 2021.
Paul Goodchild, director at Secure Trust Bank Commercial Finance, said: “The Lakes Distillery is a brand committed to quality in everything it does.
“We look forward to continuing to work closely with David and the team to help the distillery fulfil its growth ambitions.”
