Lloyds Corporate agrees £2m deal with furniture maker

A MIDLAND furniture group has secured a £2m deal with Lloyds TSB Corporate Markets to provide funding for future growth.

JDP Furniture Group, which has a turnover of £50m, manufactures and imports high quality traditional and contemporary cabinet and upholstered furniture for retailers across the country, including Laura Ashley, John Lewis and BHS.

As a major manufacturer,JDP Furmiture, based in Long Eaton, Nottingham, employs more than 600 people.

John Clay, relationship director for Lloyds Banking Group, said: “JDP is a key employer and has a reputation for producing some of the country’s most finely crafted furniture.  We’re delighted to be able to provide the banking facilities required to ensure this prestigious company continues to thrive.”

John Brooks, JDP’s group finance director, said: “We’re extremely impressed by the bank’s local approach to our banking needs.

“It was very important to us to find a bank that could offer us strong relationship-led management of our account.”

JDP Furniture Group comprises six trading companies; Parker & Farr, Wade Upholstery, Cintique, Celebrity, YP Furniture and Wellbeck.  Each business boasts its own speciality, ranging from the manufacture of showood upholstery to reclining furniture.