Family-run jewellery business secures £1.5m funding boost

A Derbyshire-based jewellery business has secured £1.5m from MEIF Maven Debt Finance to build a new design and manufacturing centre, potentially creating a number of new jobs in the process.

CW Sellors says it also intends to use the funding to increase its sales and marketing activity.

Founded in 1979, the family firm is known across Derbyshire and Yorkshire for its boutique jewellery and luxury watches.

The retailer’s new design and manufacturing facility in Carsington will include a jewellery store, exhibition space and a café.

Richard Altoft, investment director for Maven, said: “This is a really exciting time for CW Sellors and the expansion of their design and manufacturing centre could see a continuing number of prosperous years ahead for the business. Following an introduction from Midlands Asset Finance, we are delighted to be able to support the business through this key growth stage.”

Chris Laud, head of finance at CW Sellors, added: “It has been a pleasure to work with Maven at this important time in the development of our business. Raising finance can be a difficult and often quite painful process, but Richard was very supportive and, in the end, the whole experience was very straightforward.”