Liverpool bakery and ingredients firm Real Good Food has been handed a much welcomed lifeline by its investors.
The struggling firm informed the London Stock Exchange that it has secured a £4m loan.
When they issued their financial results in December, the firm announced that “further substantial additional funding” would be needed for working capital and investment purposes.
North West Food & Drink Means Business understands that its three major shareholders (Napier Brown Ingredients, Omnicane International Investors and Downing), have agreed a draw-down loan facility.
Real Good Food Chief executive Hugh Cawley said: “Today’s additional funding is an important part of meeting our short-term requirements, and further funding will be required for working capital and investment purposes in order to implement the group’s business plan.