Red Squirrel operates two self-storage facilities in Scotland
May 20, 2020: Red Squirrel Storage Centres has incorporated a new technology to help its customers and staff practice social distancing during the coronavirus outbreak. Red Squirrel Storage introduced additional key safes, automated doors and a state-of-the-art camera system to give tenants 24-hour access to their indoor storage units without staff assistance, according to a press release. In addition to this, the company also offers an online booking system.
The mandated lockdown and restriction on in-person transactions caused a drop in new rentals and revenue at Red Squirrel, the release stated. To overcome the situation Red Squirrel paused ongoing investment in both its 20,000-square-foot sites and furloughed some staff. However, it then secured a Bounce Back Loan Scheme from the Bank of Scotland, allowing it to improve its working capital position, honor commitments with suppliers, and progress with its planned site improvements. Employees will be able to return to work without the need for face-to-face interaction with customers.
“We’re an ambitious, fast-growing family business. We opened our second site in Broxburn in 2019 and have been working hard to keep up with customer demand ever since. When lockdown came into force, our ability to meet customers and do business was impacted, and our onsite developments were put on hold. The Bounce Back loan is going to help us get these plans moving again, continue to grow the business during difficult times and—thanks to the technology we’re bringing in—let us safely bring staff back to work sooner than expected.” Said by Bernard Dunn, managing director for Red Squirrel.
“Red Squirrel Self Storage is a great example of a successful Scottish business that had to pare back the services it offered customers thanks to COVID-19. The Bounce Back loan we’ve provided will give Bernard and the team the financial headroom to progress ambitious onsite improvements and help the business continue to grow and operate at full capacity—safely—amid social distancing.” said Gavin Fleming, business banking manager for the Bank of Scotland.
Red Squirrel Storage is a family-owned and operated business, offers indoor self-storage and outdoor container storage as well as office space.