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Expansion thanks to HSBC as Lincolnshire's Classic Furniture secures 2.1m funding Magazine

Classic Furniture, a trade-only Lincolnshire-based wholesale furniture supplier, is defined to nurture after landing a funding package worth 2.7m from HSBC.

Established in 1989, this company provides retailers with timber cabinet furniture and chairs, and also delivery and support service service. The funding deal suggests that Classic Products are able to penetrate new, larger markets and increase its selection to customers, including new designs and colours.

Classic Furniture, which happens to be found in Binbrook, says it expects to succeed its revenue by 10% on top of the next A year and contains wants to expand its staff numbers.

Dave Rippin, director at Classic Furniture, said: “We’re happy to receive financial support from HSBC. Our customers need to have a persistantly increasing choice of furniture products. The funding package puts us in an exceedingly great position, ensuring we will meet customer demand whilst provide a fresh trade markets. We’re now expecting our turnover to increase yearly year and searching forward to new opportunities even as increase our business.”

Adam Kelly, HSBC’s area director for North Yorkshire additionally, the Humber said: “We focus on help SMEs grow through our dedicated lending fund and we’re delighted to support Classic Furniture. This company is an ideal example of the kind of businesses we support: enthusiastic about their business and focused upon ensuring this company maximises its potential.”

The deal was carried out by Daniel Wilson, HSBC’s corporate relationship director in North Yorkshire and Humber.

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