Outdoor clothing distributor lands seven-figure funding line

An East Midlands distributor of outdoor and country clothing to retailers has landed a seven-figure funding deal from HSBC UK.

Bradshaw Taylor, which is headquartered in Rutland, supplies over 1,000 retailers and remained open throughout the lockdown period to meet an increased demand from its e-commerce customers.

The CBILS funding from HSBC will support the business’s cashflow during this period as it looks to cope with increased stock levels due to the lockdown – with the company incurring costs to both store existing stock whilst also having to buy in new lines.

Corry Taylor, managing director at Bradshaw Taylor, said: “We received spring product lines from our suppliers before lockdown but with retailers temporarily closing across the UK and Europe, this stock was never shipped. We’re now faced with excess stock levels as we begin to receive our autumn/winter lines. The support from HSBC UK has enabled us to weather this period and continue to support our customers, who are also facing similar challenges.”

Richard Parker, HSBC UK relationship director East Midlands Corporate Banking, added: “We were pleased to be able to support the team at Bradshaw Taylor as they navigate this period of uncertainty. The funding will not only support the current challenges posed by an increase in stock but also help the team to plan for the future.”