Home textile firm lands £2m invoice financing agreement
DREAMTEX, an award-winning designer of home textile products based in Chorley, Lancashire, has agreed a £2m invoice and trade financing facility with Aldermore, the specialist lender and savings bank.
Aldermore has been supporting Dreamtex’s financing needs since it was launched in 2012.
The business creates licensed home textile products such as bedlinen, towels, cushions and fleece blankets.
Dreamtex has working relationships with major entertainment companies such as Universal Studios, the BBC, DHX Media and Ubisoft and develops home textiles for brands such as Paddington Bear, In the Night Garden, Jurassic World and Ghostbusters, which it recently launched glow-in-the-dark bedding for.
Dreamtex’s workforce consists of eight members of staff and the business operates in the home textile retail industry in the UK and Ireland. Its products are sold by a wide range of high-profile retail outlets such as Argos, Amazon, Asda, Primark, Tesco, B&Q, Debenhams and Claire’s.
Dreamtex is planning to use the funding from Aldermore to invest in products and materials and support its cash flow.
The company aims to further grow its successful business and gain market share by signing the most popular licenses and producing good designs on quality products for the UK and Ireland, whilst ensuring it meets international ethical standards by working with Sedex and Oeko-Tex.
Anthony Duckworth, managing director at Dreamtex, said: “We have worked with Aldermore now for four years and have been very pleased with the level of service and dedication the team have given to Dreamtex.
“It has certainly made our job of managing the debtors ledger and credit control a lot easier. They were able to support our business through a very busy period, resulting in rapid growth, and they provided a brand new facility built around our business’s needs in a very short amount of time.”
Andrew Dixon, commercial director for specialist finance at Aldermore, said: “The experienced management team and strong business plan made Dreamtex an attractive company for us to support, and we’re pleased to have been able to help the company to grow over the years by providing the finance they need.
“The Dreamtex team have built a sucessful, long-term business with strong profit margins, and their customer base has grown tremendously in the short time since the company was established in 2012. We hope that this additional funding helps the business to boost its growth even further in the future.”
