Linen firm moves into new warehouse with the help of bank loan
Burnley linen supplier Mediterranean Linens has expanded into a new warehouse with the help of a bank loan.
A six-figure funding package from HSBC has supported the Lancashire firm in building new premises at Enterprise House, Burnley.
The expansion is part of the firm’s wider strategy to increase imports from a greater range of suppliers.
The funding has also supported Mediterranean Linens in taking a new substantial contract with the Afonwen Laundry Group.
The new 45,000 sq ft warehouse in Burnley has created seven jobs and is expected to generate a 40 per cent increase in turnover over the next financial year.
Ashraf Said Ahmed El Sayed, Managing Director of Mediterranean Linens and sister company J&M Sherry Textiles, said: “Our customer base is continually expanding and diversifying. In order to satisfy demand, we needed to acquire more space, facilities and capacity.
“Having a long-standing relationship with HSBC, we knew they would be able to support us in finding the best route to growth.”
Alastair Woodford, HSBC Commercial Manager for Lancashire, added: “Mediterranean Linens is an ambitious company that brings quality products and services to a mass market.
“They are highly regarded across a diverse range of sectors, including hospitality, healthcare and retail. We look forward to seeing the company expand into new markets as they continue to grow.”
The deal was also supported by Manchester-based accountants and business advisors Beever & Struthers.
John Toon, SME Manager at Beever & Struthers, said: “Our longstanding experience of working with wholesale operators allowed us to form an effective and productive partnership with Ashraf and HSBC to enable his business to expand its premises and pursue its growth strategy.”
Mediterranean Linens has over 50 years’ experience in supplying products to the hospitality, retail and hotel group sectors. The company specialises in importing high quality products from around the world. The company acquired global linen sourcing group J&M Sherry in 2015 to increase their market share.
