A trampoline park which was devastated by a fire three years ago has received a £300,000 loan to buy extra equipment and complete its re-fit.
Coventry-based Red Kangaroo – which secured the finance from the Midlands Engine Investment Fund (MEIF) – will use the funds to purchase additional equipment and create a socially-distanced layout in line with Government guidelines.
The trampoline park, which has a workforce of around 40 staff, boasts foam pits, a wipeout zone, an air bag and a mega slide as well as a new inflatable park.
Now it is preparing for a rise in visitors over the coming months after experiencing high demand during the periods between lockdowns.
Red Kangaroo founder Paul Wrightman said: “Following a fire that put the park out of action in 2018, our re-fit was put on hold last year due to coronavirus. This funding has enabled us to complete the work on the park and create an exciting new area to offer even more variety.
“To ensure we can offer the safest environment for our staff and customers, we have increased activities and put Covid-secure measures in place.”
BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire.
Click through here to sign up for our daily email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates.
We will also send out ‘Breaking News’ emails for any stories which must be seen right away.
For all the latest stories, views and polls, follow our BusinessLive West Midlands LinkedIn page here.
Chirag Mistry, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, said: “Paul has extensive knowledge in the leisure industry and is a very committed and passionate owner.
“He has created an offering that meets the demands of customers seeking Covid-safe activities, as demonstrated by the high level of booking enquiries received prior to reopening.
“Due to the current restrictions placed on foreign holidays, I am sure that Red Kangaroo is likely to be a popular venue during the six-week summer holidays. We look forward to working with Paul and seeing how the next stage of his journey goes as he reopens.”
Sean Farnell, board director at the Coventry and Warwickshire Local Enterprise Partnership, added: “Red Kangaroo has become a firm favourite with parents and children alike since it was established in our area and this funding will enable the business to extend the facilities it can offer.
“It is vital we help our businesses not only to recover from the pandemic but to enable their future growth.”