Finance deal helps Wot Evry1 Wants continue growing

Finance deal helps Wot Evry1 Wants continue growing

Bolton-headquartered clearance firm Wot Evry1 Wants is on course to achieve a turnover of more than £1m after securing contracts with some of the UK’s largest retailers.

Entrepreneurs Naomi and Stephen Eskowitz launched Wot Evry1 Wants from their kitchen table back in May 2014.

The company now sells clothing, homeware and stationery direct to retailers across the country, working with high-street brands such as T.K Maxx.

The firm has grown rapidly since then and is now expected to achieve a turnover of £1.5m by the end of next year.

An increase in client demand meant that Naomi and Stephen needed to invest in the firm to continue growing the business and so approached Lloyds Bank Commercial Banking for a £500,000 invoice finance package.

Naomi said: “When we started the business we had no idea that we would be in as strong a position in such a short space of time.

“We now have a base in Rochdale, in addition to our headquarters in Bolton, and hope to continue to expand both our product range and our services in the coming months.

“To continue to expand quickly we needed to invest in the company, and approached Lloyds Bank for a flexible funding package that would enable us to release money from unpaid invoices when needed.”

Rob Walters, relationship manager for Lloyds Bank Commercial Banking, commented: “Naomi and Stephen’s ambition and drive has meant that company has expanded quickly over the past two years, establishing relationships with some of the country’s biggest retailers.

“When growing, it’s vital that firms like Wot Evry1 Wants have the tailored funding needed to expand. Invoice finance facilities are perfect for businesses that need to invest in their firm quickly as it enables owners to release capital without affecting day-to-day cashflow."

 

 

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