Upholstery firm has it covered after creating 40 jobs

SCUNTHORPE business Lebus Upholstery is creating 40 jobs after receiving a £5m funding package from Lloyds Bank.

Lebus is expecting turnover to increase by 15%, and the funding from Lloyds will allow it to create 40 jobs in sales and distribution to keep up with the expansion.

The firm works with high street furniture retailers including Home Retail Group, Oak Furniture and SCS.

Founded in 1984, the firm reincorporated 10 years ago and saw sales jump 50%, as well as hiring 80 staff in the past two years.

Karl Walker, managing director, said: “We have already built up a strong reputation across the industry for manufacturing high-quality products, providing bespoke designs to both major high street retailers as well as independent operators in both the UK and Ireland.

“Over the next few years we hope to continue to drive growth, and increased staff numbers will help to underpin and sustain our ambitions.

“To help facilitate their growth plans the management team approached Lloyd Bank plc, which provided a £5 million tailored working capital funding package which has been specifically created to match the company’s working capital needs.

Andrew Gaunt, business development director for the Lloyds Bank Global Transaction Banking Mid-Markets team, said: “The sustainable growth that Lebus Upholstery has achieved over the past few years is testament to the drive of Karl and the management team.

“Expanding staff numbers over the next 12 months is a key part of the company’s growth plans and will help the firm to increase production and sales and expand its already outstanding customer base.”