Willerby secures funding package
Donnerstag, 29 Juli 2010
Hull-based firm Willerby has received a £40 million funding package, half of which is provided by Lombard - the asset finance division of the Royal Bank of Scotland.
The latest funding is expected to boost the luxury holiday home manufacturer's growth plans. The money from Lombard will be used to offer credit facilities to dealers.
Such facilities will enable them to have demonstrator models on site, helping to increase sales.
The rest of the funding, offered by RBS's Invoice Finance team, will be used to help the firm handle its day-to-day operations.
Willerby, which employs a total of 850 people, provides a range of holiday homes across the UK.
Ian Burville, chief executive officer at Willerby, said: "We build holiday homes for people who want to make the most of their leisure time.
"By combining cutting-edge interior design with innovative space planning, we are constantly transforming our range to provide customers with a comprehensive range of superior quality 'next generation' holiday homes and lodges from which to choose.
"We are confident that, with the support of RBS and Lombard, we are in a good position to grow the business even further and utilise the benefits of the new dealer stocking facility to help build on holiday home sales."
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