Thorold Arms owner drinks to six-figure loan
A Lincolnshire country pub has changed ownership and expanded its services after securing a six-figure loan.
Traditional-style pub the Thorold Arms in Marston, between Grantham and Newark, has introduced accommodation and a restaurant using a £185,000 loan from Lloyds TSB Commercial.
The business was bought by Kim Roberts, who grew up in Grantham, and is expected to achieve an annual turnover of more than £200,000.
It employs 12 staff, with a connected shop that sells a range of produce such as locally made honey, preserves and baked goods, as well as fruit and vegetables.
The investment was used to purchase the building and install a new kitchen, with a team of 30 local volunteers helping Roberts renovate the pub.
Roberts said: "Since taking over the Thorold Arms we have worked hard to further enhance the pub's public profile, as well as successfully expanding our business model to incorporate a wider range of services.
"It has been a difficult time for the pub industry recently and it is these challenges that have led us to diversify in this way. We have created a strong teamwork ethic in the business and we are committed to providing quality service across all the branches of our business."
