Absolute fashions deal with Twinfin

ABSOLUTE Finance, the former Cattles Invoice Finance, has announced its maiden deal.

The Manchester company has arranged a £200,000 funding line for fashion house Twinfin, which has recently won orders from retail giants Tesco and Asda.

Twinfin, which designs, markets and sells a portfolio of in-house brands, is to supply its Hang Tough boyswear collection to ASDA and its parent company, Walmart, under licence.

Manchester-based Twinfin will also be supplying its summer womenswear collection, Blue Wahoo, under licence to Tesco International.

The funding line from Absolute has assisted Twinfin in managing the constraints of restricted cashflow.

The company, which already supplies clothing ranges to N Brown Group brands Simply Be, and Jacamo and retailer TK Maxx, anticipates a turnover of £1.5m in 2009/10.

Founder and managing director of Twinfin, Stuart Ogg, commented: “We are delighted to announce retail partnerships with ASDA and Tesco International.

“We can now concentrate on developing our business with blue chip multiples, while Absolute worries about the invoices.”

Absolute is now owned by a private equity firm and has a £100m funding line.