Spiritrade - Launches Dedicated Hub in UK Capital

Strong demand from UK stockholders has led to the global marketplace?Spiritrade?developing a dedicated London hub, assisting brand owners through the challenges caused by Brexit and the pandemic.

To help brand owners,?Spiritrade?applied for the AWRS and WOWGR licenses to be able to assist the trade and work with all buyers and sellers in the drinks industry.

The company was awarded these licenses in early December and is founding a UK hub in London to meet demand. “Our goal is to assist brand owners in solving many of the challenges they are facing, particularly around stock, credit concerns, and distribution,” says company CEO Jimmy Metta.

The pandemic has created challenges in the UK, particularly with large wholesalers experiencing drastic declines in demand. Supply-chain issues, inflation, Brexit and lack of on-trade business have all caused issues for stockholders.

In particular, big hospitality groups have been affected by these challenges, especially during the Christmas period. Spiritrade’s new London hub will provide them with a channel to buy and sell in the UK, alleviating many supply chain problems.

“Now more than ever is there a massive need for a platform that can assist businesses and ensure their survival. The drinks market is in turmoil, and mainstream revenue channels have been hugely compromised by the pandemic. Drinks businesses have had to adapt accordingly.”

The launch of Spiritrade’s UK hub has come at a much needed time for the country’s traders; drinks companies either have too much stock, which is deeply affecting their cash flows and leading to suppliers not being paid on time, or there is a major shortage of core products to be able to generate a profit.

Spiritrade has partnered with London City Bond, and buyers and sellers will be connected through a dedicated exchange enabling them to negotiate and trade through the click of a button.

For the first time, Spiritrade will be able to accept duty paid products when using London City Bond as a delivery hub. The new platform will be rolled out in the coming months, making trade even faster and easier.