Furniture Clinic set to expand with £400,000 loan

Furniture Clinic set to expand with £400,000 loan

A Durham company which has already had international success is set to expand further, with backing from a £400,000 loan.

Furniture Clinic, set up by father and son Keith and Ben Staerck in 2004, has been backed by funding from The North East Growth Fund, managed by FW Capital.

The company, which manufactures a range of products to restore fabrics, leather and wood, has high-profile customers such as Rolls Royce, Harvey Nichols and Radley.

Expansion will now see the company recruit at least 20 new members of staff in sales and management as well as in its repair team, as it aims to increase its annual turnover from £2.4 million to over £6 million over the next 3 years.

Ben Staerck, who was named as BQ’s Emerging Entrepreneur for the North East, said: "The business has seen rapid growth with a good mix of online and trade sales.

 “FW Capital’s investment will underpin our expansion plans and enable us to find new customers both at home and abroad.”

Ben became managing director in 2012 following his father’s retirement, and since then Furniture Clinic has gone from strength to strength, opening new branches in New York and Hong Kong.

In 2013 Ben spotted a gap in the market and launched Handbag Clinic to repair and restore designer handbags and in 2015 the company opened its first store on Kings Road in Chelsea, with stores in Islington and Newcastle following soon after.

Named Young Business Person of the Year at the 2014 North East Business Awards, Ben was shortlisted for Young Entrepreneur of the Year at the Entrepreneurs’ Forum in 2015 and has just been named as BQ’s Emerging Entrepreneur for the North East.

Michael Vassallo, senior investment executive at FW Capital said: “I was impressed by Ben's vision for the company and his dynamism to take the business forward. 

“The company is already a huge success in a niche market and our loan will be instrumental in the company’s expansion over the next three years.”

Furniture Clinic’s products are currently available in the UK, US, Poland, Sweden, Finland, Vietnam, Russia, Latvia, South Korea, Japan and Hong Kong.