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United Kingdom : LANCASHIRE fashion designer secures Au150k loan from ROSEBUD FINANCE to support expansion.

After recently winning a deal with Marks & Spencer, a fashion design company has received a Au150k loan from Lancashire's Rosebud Finance to support its growth.

Appley Bridge, near Wigan-based, Portfolio 2008, supplies nightwear to some of Britain's major high street retailers including Next, Tesco and the Arcadia Group.

The firm has seen year-on-year expansion since it was launched six years ago and has hired extra administration and design staff to help manage the growth.

Portfolio 2008 makes garments to order for its retail clients. Garments are designed by a team in Appley Bridge, where it staffs 16 people, and produced on contract in China where it has a further five staff who visit factories, monitor quality and organise shipping.

The firm was established by three of the existing management team - managing director Ian McEvoy and colleagues Susan Watson and David McDonald after the firm they were earlier employed by underwent a turn around in 2007.

Ian McEvoy stated : 'Our recent success in adding M&S to our existing line-up of high street names demonstrates the high quality of our design, products and service. We are now looking to build on our success in the retail sector by securing new contracts within the public sector.'

On behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic growth company, Rosebud Finance is administered by Enterprise Ventures.

Paul Taberner of Enterprise Ventures stated : "The Portfolio 2008 management team have built an impressive client base and an infrastructure capable of delivering substantial growth. The funding will provide working capital to cover the increased cost of production as a result of the increase in orders."

County Councillor Niki Penney, chair of LCDL, added : "We re pleased that Rosebud is able to support another Lancashire business from the Creative and Digital sector, which we ve identified as a sector with high growth potential. Portfolio 2008 have already seen a lot of success, including contracts with some of the biggest names on the high street. And Rosebud is now supporting the next stage of their plans, which will open up new opportunities for growth and bring new jobs to Lancashire."

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Publication:Mena Report
Date:Jul 26, 2014
Words:366
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