£1m finance package for clothing retailer

Lindy Bop, a Manchester-based vintage clothing retailer, looks set to expand with the support of a funding package worth £1m from HSBC.

The independent clothing business, established in 2011, designs and sells a range of vintage fashion products, including dresses and accessories, directly to customers and a selection of retailers.

HSBC’s financial support will ensure that Lindy Bop can increase its overseas manufacturing capacity and manage its cash flow.

This will allow the business to meet increasing demand after recently winning a contract to supply leading high street retailer Debenhams and launching an online store in Germany.

Lindy Bop expects to grow its revenue by 25% over the next 12 months and has plans to grow its staff to meet healthy demand from its customers in the UK and overseas.

Kieron Ellis, finance director at Lindy Bop, said: “We are delighted we’ve received financial support from HSBC. As vintage fashion continues to thrive in today’s culture, the funding package has placed us in a great position where we can adequately meet customers’ expectations by providing a high quantity of our products to new and existing retailers in the UK and abroad.

“Following the HSBC funding, we expect our turnover to increase by a quarter within the next year and we look forward to new opportunities that arise as we continue to grow our business.”

Jason Trigg, HSBC’s area corporate director in Manchester said: “We strive to help SMEs grow and we are delighted to welcome Lindy Bop to HSBC.

“The company is the perfect example of the businesses we support: passionate about what they do and dedicated to taking their business one step further.

“Effective cash flow management is vital to ensure that businesses make the most of opportunities to grow and we put together a package that would help Lindy Bop boost profitability in the long-term.”

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