The Alchemist has received a new injection of capital after completing a refinancing of its banking facilities and shareholder loans.

The undisclosed amount was referenced in historic financial accounts for the cocktail bar and restaurant company.

The business said it generated strong results when allowed to open last year, despite the significant restrictions in place.

This has given the directors confidence in the company’s finances, turnover, EBITDA and cash when measures are eased in 2021.

According to its forecasts, the level of uncertainty caused by Covid-19 was “manageable”, and the company can continue to meet its liabilities.

The Alchemist made a profit of £4.3m, before depreciation and pre-opening expenses for the period of March 2020, from turnover of £45.8m.