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CW Sellors has secured funds worth £1.5m from MEIF Maven Debt Finance, enabling the jewellery company to open a new design and manufacturing facility in Derbyshire, which will include a jewellery boutique retail store, exhibition space, tours for visitors, and a café.
The loan has been made available via the Recovery Loan Scheme, and it will also help the business to expand its team and support sales and marketing activities to boost revenue growth.
Established in 1979, the business is a fine jewellery and luxury watch specialist in the UK, and is an approved retailer for brands including IWC, Breitling, TAG Heuer, Fope, Mikimoto, Gucci and Faberge.
Chris Laud, head of finance at CW Sellors, said: “It has been a pleasure to work with Maven at this important time in the development of our business. Raising finance can be a difficult and often quite painful process but Richard was very pragmatic and supportive, and, in the end, the whole experience was very straightforward.”
Richard Altoft, investment director for Maven, added: “This is a really exciting time for CW Sellors and the expansion of their design and manufacturing centre could see a continuing number of prosperous years ahead for the business.
“Following an introduction from Midlands Asset Finance we are delighted to be able to support the business through this key growth stage.”
