Partner Article

Stockport flooring company relocates with RBS £100k funding

A flooring firm, The Reclaimed Flooring Company (RFC), has announced that it has relocated its operations to larger new premises in Stockport to accommodate its ongoing growth thanks to a six-figure funding deal from Royal Bank of Scotland (RBS).

RBS has supported the relocation with a £100k package including a £75k commercial loan to fund the refit of the new business premises and purchase of new equipment and a £25k overdraft facility to support working capital.

The move has seen the company move from a unit on Gorsey Mount Street, where they have been based since 2008, to a 15,000 square foot facility on Whitehill Industrial Estate.

New staff members in both administrative and production roles will also be recruited as a result of the move.

Established in 2006 by brothers Tom and Rob Henry, RFC manufacture bespoke flooring from authentic reclaimed, replica reclaimed and specialised new wood.

The company hit targeted turnover of £1.2 million for the year ending February 2015 and is looking to exceed £1.6 million turnover by 2016 year end and £2.25 million by 2017.

Director of The Reclaimed Flooring Company Limited, Tom Henry, said: “Ongoing business successes meant that we had outgrown our previous premises and needed a larger facility to cope with production demands.

“The new site has given us five times the amount of space than we had before, allowing us to maximise production efficiencies and giving us plenty of room to grow.

“Switching to RBS has been excellent.

“The process couldn’t have been simpler and the package that the team has put together has been fantastic in assisting us with the costs of expansion.

“Their support been instrumental in securing this move.”

Relationship manager at RBS Corporate Banking, Mark Faulkner, said: “We are pleased that RFC decided to switch their banking facilities to RBS and that we could support their growth plans with a suitable funding package.

“Their growth strategy is excellent and Tom and Rob have developed a strong company and a desirable product offering.

“We are looking forward to working alongside them in the future and to helping them achieve their growth objectives.”

This was posted in Bdaily's Members' News section by Sophia Taha .