Product: Asset based lending
Facility size: £63m
Established in 1993, this Midlands-based retail business is a leading specialist in the design and distribution of kitchen appliances and houseware. Through strategic expansions and acquisitions, the organisation has delivered strong financial performances since inception. They have diversified their product portfolio to offer a wide range of domestic appliances to its primary consumer segment of high street retailers.
The business found it difficult to adapt to supply chain issues related to covid-19 and over the following 18 months, required a review of processes and experienced a short-term working capital squeeze.
Having successfully navigated these challenges, and determined to continue their growth trajectory, the management team decided to seek additional funding. Of key importance to them was an agile partner who could offer a tailored facility with greater flexibility to help them achieve their goals.
Close Brothers Invoice Finance is proud to offer an asset based lending solution that will help release working capital and generate headroom for growth. This will enable the business to invest in new product development, meet the expanding demand in the sector and sustaining growth levels.
Find out how we can help your business thrive over the long term.