Blackburn sign firm gets cash injection to expand

BLACKBURN-based street furniture designer Woodscape has secured a £950,000 finance facility to support its continued expansion.

The firm has won several key contracts, including with supermarket giant Tesco and the Queen Elizabeth Olympic Park, and the finance package with HSBC would allow it to ‘generate working capital from its order book to facilitate continued growth’.

Managing director Richard Nelson said: “We have experienced strong growth and forecast more of the same this year, so we needed a finance package that meant that growth wouldn’t put too much strain on our working capital.”

HSBC Lancashire area commercial director Jason Gledhill added: “I’m pleased to welcome Woodscape as an HSBC customer.

"The company has won some major contracts over the past 18 months, so is clearly impressing people with its ability to make interesting and appealing street furniture.

"We have been impressed by the management team and its strategy, and are delighted to support its growth.”

Comments (1)

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9:32am Mon 17 Feb 14

woolywords says...

Nice to see that the banks are back to doing what they are supposed to be doing; making loans to small and medium sized companies, that can grow to offer more jobs that are full time, fulfilling and sustainable.
Prudent investment in a company creates more jobs, where those workers will either save or spend thus putting something back into the economy that may go some way towards to reducing the debt that the banks have saddled us with, when we bailed them out.
At least we can be assured that this investment, won't go towards paying bloated bonuses to anyone, as happened in the banking world, when we helped them out..
Nice to see that the banks are back to doing what they are supposed to be doing; making loans to small and medium sized companies, that can grow to offer more jobs that are full time, fulfilling and sustainable. Prudent investment in a company creates more jobs, where those workers will either save or spend thus putting something back into the economy that may go some way towards to reducing the debt that the banks have saddled us with, when we bailed them out. At least we can be assured that this investment, won't go towards paying bloated bonuses to anyone, as happened in the banking world, when we helped them out.. woolywords

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