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Blackburn sign firm gets cash injection to expand
1:00pm Sunday 16th February 2014 in News
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.”