Positive move for Simon and Simon

NORTH West menswear supplier and retailer Simon and Simon has boosted its growth prospects with a new funding line.

The Bolton-based firm, which is hoping to break £1m turnover in the year to March, has agreed a deal with invoice finance specialist Positive Cashflow Finance.

Simon and Simon, based in Bolton, distributes its range of own-branded formal wear to both wholesale and retail outlets. Currently employing 10 staff, the company has a pop-up shop in the Liverpool One shopping centre and recently launched online.
 
With the funding facility in place, Simon and Simon plans to expand its retail division, with further stores planned for Birmingham, Manchester and Chester.

It also plans to extend the profile of its website to overseas consumers. The funding will support the company to invest in new materials, and provide a vital foundation for growth.
 
Simon Peters, owner of Simon and Simon, said: “Positive’s finance facility has enabled us to realise our potential, and has meant that we can be more ambitious with our plans for next year. I am looking forward to opening our new outlets, and bringing our products to a wider online audience in 2014.”
 
David Smith, managing director of Manchester-based Positive Cashflow Finance, said: “The industry is extremely competitive, but Simon and Simon has a unique proposition that we believe in. The company has an excellent business plan, and we are confident that with our help, Simon and Simon can go from strength to strength.”