Clearance firm set to top £1m revenue after striking deals with big retailers

A BOLTON-headquartered clearance firm is on course to achieve a turnover of more than £1m after securing contracts with some of the UK’s largest retailers.

Wot Evry1 Wants was launched from the kitchen table in May 2014 by Naomi and Stephen Eskowitz and sells clothing, homeware and stationery direct to retailers across the country, working with high-street brands such as TK Maxx.

The firm has since grown rapidly and is expected to achieve a turnover of £1.5m by the end of 2017.

An increase in client demand meant the couple needed to invest in the firm to continue to offer a high standard of service and so approached Lloyds Bank Commercial Banking for a £500,000 invoice finance package.

Naomi said: “When we started the business we had no idea that we would be in as strong a position in such a short space of time.

“We now have a base in Rochdale, in addition to our headquarters in Bolton, and hope to continue to expand both our product range and our services in the coming months.

“To continue to expand quickly we needed to invest in the company, and approached Lloyds Bank for a flexible funding package that would enable us to release money from unpaid invoices when needed.”

Rob Walters, relationship manager for Lloyds Bank Commercial Banking, said: “Naomi and Stephen’s ambition and drive has meant that company has expanded quickly over the past two years, establishing relationships with some of the country’s biggest retailers.

“When growing, it’s vital that firms like Wot Evry1 Wants have the tailored funding needed to expand. Invoice finance facilities are perfect for businesses that need to invest in their firm quickly as it enables owners to release capital without affecting day-to-day cashflow.”