Cash injection provides Caernarfon events theatre and restaurant with springboard for post-pandemic growth
A £435,000 cash injection provided by Reward Finance Group will help a unique entertainment and events venue in Caernarfon to expand its live events programme and boost its dining capacity to respond to strong post-pandemic demand.
The Old Courthouse, which is located in Caernarfon’s former crown and magistrates court overlooking the town’s famous castle, opened its doors as pandemic restrictions ended in August 2020 following a two-and a half year conversion project of the Grade I listed building.
It was the brainchild of musician Moira Hartley, who wanted to create a venue that would bring nationally and internationally renowned performers to North Wales, whilst at the same time offering a new dining experience in the elegant surroundings of one of the town’s most significant 19th century buildings.
With its tea room and bistro growing in popularity amongst locals and tourists, Miss Hartley now wants to expand the Courthouse Theatre’s music and entertainment calendar. This is already shaping up for the remainder of this year and 2023, with the autumn / winter programme including monthly tea dances by Ballroom Blitz, Welsh spoken word performances from Bragdy’r Beirdd in an evening to celebrate Llŷr Gwyn Lewis winning the chair at this year’s National Eisteddfod and performances from Ronnie Scott’s House Band.
Key to developing both the theatre and dining areas of Courthouse Entertainments’ business is the availability of working capital, which is where Reward Finance Group has been able to help after an introduction by Ben Humphreys at Bathgate Business Finance. Through its Business Finance product, the business has been able to refinance its initial investments needed to acquire and refurbish the historic building as well as build its stock and meet any upfront costs associated with staging events.
Moira Hartley, managing director of Courthouse Entertainments said, “The pandemic had a major impact on our refurbishment schedule and ability to operate fully when restrictions were relaxed. Unique challenges were navigated to get our theatre, events and restaurant plans back on track and with the additional working capital facility provided by Reward, we are very well placed to be able to establish the Courthouse Theatre as one of the top entertainment venues in North Wales and increase our dining capacity.”
Mike Calvert, business development director at Reward Finance Group, added: “Moira and her team have put their heart and soul into creating this very special arts and hospitality venue and it is fantastic to see the venture taking shape as its popularity grows. Through our Business Finance product, we are pleased to be able to provide the business with a flexible facility that provides access to funds as and when required – essential for any growing business in this sector.”