New jobs on the way as homewares firm lands £250,000 funding line
Leicestershire-based homeware wholesaler Fifty One Percent has received a £250,000 finance package from the Midlands Engine Investment Fund Debt Finance, managed by Maven Capital Partners.
The funding will see the Leicestershire-based business to hire four more staff, while expanding its product line and sales and marketing function.
Fifty One Percent operates as a wholesaler and distributor of homeware products including porcelain and chinaware, soft-furnishings, kitchen textiles and bathroom accessories. The firm lists major retailers as customers including John Lewis, Harrods’ and Selfridges. The firm also supplies internationally to Anthropologie, David Jones, De Bijenkorf and Galeries Lafayette.
Husband and wife management team, Phil and Jen Butler have organically grown the business since launch in 2009 and recently opened new premises in Lutterworth, Leicestershire, for displaying its expanding product line.
David Tindsley, investment manager at Maven, said: “We are delighted to provide funding to Fifty One Percent. The business has a great growth plan in place, and we are looking forward to seeing the team achieve their goals over the coming years.”
Phil Butler, director of Fifty One Percent, said: “The new funds will enable us to expand our product offering and commercial operations. We are committed to working with Maven to grow the business and strengthen relationships with our suppliers and customers.”