An iconic holiday village and resort in North Wales has fully reopened to holidaymakers with the backing of a seven-figure loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS).
Portmeirion, an Italian renaissance style village on the North Wales coast near Porthmadog, became world famous in the 1960s when it provided the backdrop for the cult classic TV series The Prisoner.
The village was forced to close to day-trippers and holidaymakers following the Covid-19 outbreak but has now fully reopened its two hotels, 13 self-catering holiday cottages and on-site restaurants. Overnight guests form a significant part of Portmeirion’s revenue and since the 6th July, following guidance from the Welsh Government, only day-trippers were allowed to visit the famous site.
The funding from HSBC UK ensures that the village can cover its substantial fixed costs throughout the year, and protect the future of its workforce following the disruption of its usually busy spring and early-summer period. Portmeirion implemented the UK Government’s furlough scheme for 99 per cent of its 239 employees, with the vast majority now back at work to welcome guests.
Robin Llywelyn, Managing Director of Portmeirion, said:
Thanks to HSBC UK’s support, we were able to ensure Portmeirion was ready to open for business as soon as it was safe to do so. The funding has secured the future of the resort and ensured that our employees have been taken care of while the furlough scheme is in place.
We take pride in Portmeirion’s architectural heritage, especially as its popularity allows us to help support the local economy. This funding will enable the village to continue in its role of helping support the local economy for many years to come.
Simon Pearson, Corporate Relationship Director, North Wales & Cheshire, HSBC UK, added:
Portmeirion has established itself as one of the most sought-after holiday resorts in the UK, and we’re happy to support the future of the village despite these unprecedented times.
Portmeirion Village, which was created by Welsh architect Sir Clough Williams-Ellis, was designed to show how a naturally beautiful site could be developed without spoiling it. Williams-Ellis acquired the site in 1925 and worked to complete his grand vision over the next 50 years, completing the village as it appears today in 1976.
The village provided the backdrop for the 1960s cult classic series, The Prisoner. It is home to two hotels, a cluster of historic cottages, iconic architecture, a spa, award-winning restaurants, casual cafes, an Italian ice cream parlour, exotic gardens and sandy beaches.
HSBC UK is working closely with the UK Government and UK Finance to identify emerging issues and make sure customers and businesses have the advice and support they need. For tips and advice for businesses around planning for any possible disruption, visit www.business.hsbc.com/novel-coronavirus.
