Pent-up demand for equipment leads ITW to extend payment holiday

Hobart Premax

ITW’s Leasing and Finance Division has extended the three-month payment holiday on its 12 and 24-month interest-free credit offer to 30 June 2021.

The company said the measure would help address a “pent-up” requirement from operators for new equipment, built during successive lockdowns.

The division, formed last year and offering cooking, warewash and food prep products from Hobart Equipment Division, refrigeration from Foster Refrigerator and software and scales from Avery Berkel, has made the move following feedback from the industry-at-large.

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Tim Bender, sales director at Hobart Equipment Division, said: “There is no doubt that once the industry starts to re-open there will be a huge pent-up demand for equipment. This may be planned expenditure that was put on hold or perhaps a stress purchases because equipment has failed during lockdown.

“If it’s the latter example – as we feel in many instances, it may well be – then there is a case for industry partners such as ITW stepping up to support both end-users and our dealer partners with the perfect selling solution.”

ITW’s finance is open to any hospitality business and has seen countless operators achieve the highest spec equipment desired, without the initial outlay.

Crucially, because packages have a 99% rate of approval – ITW is the lender, not a broker – customers can get hold of the equipment they need more quickly.

ITW creates UK finance division to give operators more payment flexibility

Tags : Avery BerkelFosterHobartITW
Andrew Seymour

The author Andrew Seymour

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