Scunthorpe manufacturer creates 40 jobs with £5m funding package

Scunthorpe-based Lebus Upholstery Ltd will create 40 new jobs after receiving a £5m finance package from Lloyds Bank.

Founded in 1984, the company manufacturers upholstery and works with a number of high-street furniture retailers across the UK and Ireland, including Home Retail Group, Oak Furniture Land and SCS.

Over the next 12 months, Lebus Upholstery estimates turnover will increase by 15%, creating 40 new jobs in sales and distribution.

Karl Walker, managing director, said: “We have already built up a strong reputation across the industry for manufacturing high-quality products, providing bespoke designs to both major high street retailers as well as independent operators in both the UK and Ireland.

“Over the next few years we hope to continue to drive growth, and increased staff numbers will help to underpin and sustain our ambitions.

“To help facilitate their growth plans the management team approached Lloyd Bank plc, which provided a £5 million tailored working capital funding package which has been specifically created to match the company’s working capital needs.

Karl added: “Since we began working with Lloyds Bank we have been impressed by their wealth of expertise.. Our relationship team completely understand our goals and aspirations and I am sure their support will help us to achieve our ambitions.”

Andrew Gaunt, business development director for the Lloyds Bank Global Transaction Banking Mid-Markets team, commented: “The sustainable growth that Lebus Upholstery has achieved over the past few years is testament to the drive of Karl and the management team.

“Expanding staff numbers over the next 12 months is a key part of the company’s growth plans and will help the firm to increase production and sales and expand its already outstanding customer base.”

Lee Bloodworth, relationship director at Lloyds Bank Mid-Markets team in Sheffield, also commented: “Lebus Upholstery has built a reputation for providing the right product at the right time, and this has been the key to its success since its inception.

“We are dedicated to helping businesses like Lebus grow, and look forward to working closely with the team in the future to help them expand and prosper.”

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