Member Article

Lancashire fashion firm secures £150k following M&S contract win

A fashion design business which has recently won a contract with Marks & Spencer, has secured a £150k loan from Lancashire’s Rosebud Finance to support its expansion.

Portfolio 2008, which is based in Appley Bridge, near Wigan, supplies nightwear to some of the UK’s leading high street retailers including Next, Tesco and the Arcadia Group.

The company has seen year-on-year growth since its launch six years ago and has taken on additional administration and design staff to help manage the growth.

Portfolio 2008 produces garments to order on behalf of its retail clients. Clothes are designed by a team in Appley Bridge, where it employs 16 people, and manufactured on contract in China where it has an additional five staff who visit factories, monitor quality and organise shipping.

The company was set up by three of the current management team - managing director Ian McEvoy and colleagues Susan Watson and David McDonald – after the company they were previously employed by underwent a restructuring in 2007.

Ian McEvoy said: “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.”

Rosebud Finance is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) - the county council’s economic development company.

Paul Taberner of Enterprise Ventures said: “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, said: “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.”

Rosebud provides loan and equity funding from £50,000, to over £1 million and focuses on high-growth businesses in thestrategic sectors of advanced manufacturing, aerospace, creative and digital, energy and environmental technology, and financial and professional services.

For more information about Rosebud visit www.lancashire.gov.uk/rosebud, email rosebud@lancashire.gov.uk or contact 01772 536 652.

This was posted in Bdaily's Members' News section by Clare Burnett .