TENNENT’S has announced that it will postpone a planned rise in its wholesale prices and has also introduced a three-month capital and interest ‘payment holiday’ for its loan customers.
The brewer was due to increase the wholesale list price of Tennent’s, Magners and Caledonia Best by 1.75% on April 1, with the rest of the portfolio – including Heverlee and Menabrea – going up by 2%.
Loan customers – which currently number more than 700 across Scotland – will not be required to pay for three months.
Tennent’s managing director, Kenny Gray, said: “The impact of coronavirus is being felt by businesses all over the world but no more so than in the hospitality sector. From reduced customers, to temporary closures, those running a licensed premises are under tremendous pressure.
“The situation is obviously evolving rapidly but we have a dedicated team who are considering ways we can help those affected within our industry. As a first step in this support, we are announcing today that we are postponing our price increase, that was due to take effect on 1st April and that we will be applying a three month payment holiday on capital and interest on our repayment loans to the trade.
“These are uncertain times – but we will try our very best to help those in the trade get through them.”