MARC ANTONI are doing everything they can to avoid declaring bankruptcy, after their insurer refused to pay their business interruption claim.
The company, which has five salons across Woodley, Henley, Caversham, Bracknell and Fleet were told on Friday, April 17 that their £500,000 claim to Hiscox had been refused — despite being covered for ‘an occurrence of notifiable human disease’.
Now, Julie Giamattei, one of the company’s directors is working to save the business from bankruptcy.
She said: “I have spoken with our accountant, who has been working around the clock to help us put together figures and forecast to apply for a £300K bank loan with Nat West — who we have been banking with for over 40 years.”
Mrs Giamattei explained that if the company is unable to confirm a bank loan and Hiscox refuses to pay the claim, they will have to declare bankruptcy.
“The directors — all brothers — have put our houses up as personal guarantees on long leases and loans, and we could potentially lose our homes,” said Mrs Giamattei.
“We have furloughed over 60 employees and we have had to cancel all direct debits and standing orders in all five of our business accounts and on all our personal bank accounts — mortgages, car loans, gas, electric and rates — so we are now being chased daily with companies demanding payments to be made.
“We can’t sleep at night and I’m sure thousands of businesses are in the same boat as us.”
Mrs Giamattei is now hoping that financial support will come through quickly, in order to save the 50-year-old family-run company.