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Lancashire home textile designer rests assured with new £2 million funding

POSTED: 15th August 2016
IN: Newsroom
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Dreamtex Ltd, an award-winning designer of home textile products, has agreed a £2 million 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, which is based in Chorley, Lancashire, 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.

Commenting on the recent agreement, 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.”

**Ends**

Ian Burge, PR Manager
Phone:            020 3553 4292
Mobile:            07767 794956
Email:              ian.burge@aldermore.co.uk

Constanze Ullmann, Cicero Group
Phone:            020 7297 5978
Mobile:            07741 313 878
Email:             Constanze.ullmann@cicero-group.com

Notes to Editors:

Dreamtex

Dreamtex Ltd is an award-winning UK company who care passionately about the design & creation of licensed home textile products & the brands they represent. The company was started in September 2012 and later partnered with leading European licensee SkyBrands A/S. Bringing a wealth of knowledge & expertise to the home textile category, their thoughtful, innovative approach to product development, unwavering commitment to quality & resolution to create consistently best-in-class licensed merchandise, has resulted in the company’s steady growth & increased market share. The close-knit team have developed excellent working relationships with major entertainment companies on key brands & their personal approach to retail has ensured the successful implementation of many exclusive ranges & retailer-centric promotions. Dreamtex Ltd work closely with Sedex & Oeko-Tex approved factories across the globe, to ensure that international ethical standards are constantly being met.

Aldermore

Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.

Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.

Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.

Established in 2009, Aldermore has grown significantly. At the end of June 2016, lending to customers stood at £6.8 billion and customer deposits totalled £6.5 billion.

For more information, please visit www.aldermore.co.uk.

Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.

Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.

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