30/11/11
By Karen Moss
The Royal Bank of Scotland has refinanced an existing £50 million bilateral revolving credit facility for Manchester based N Brown Group. A client since the 1980s, N Brown is a leading international direct retailer offering womenswear, menswear, footwear and home and leisure products.
Its portfolio of brands includes JD Williams, Simply Be, Figleaves, High & Mighty, Jacamo and Marisota.
The new £50 million facility is part of a larger £100 million funding deal with the company’s other banking partner HSBC. The new funding will help support the business with its future growth plans, both in the UK and overseas.
Dean Moore, finance director at N Brown, says “RBS has enabled us to achieve our stated goals and objectives and as a long standing customer we view RBS as a key business partner for the foreseeable future as we continue to grow our business and product range.”
Steve Lewis, regional director RBS Corporate & Institutional Banking, adds: “We are delighted to have refinanced N Brown’s existing facilities to meet the needs of its growing multi-channel retail business. This is very much in line with our strategy to support quality businesses with a proven and highly effective management team. N Brown’s niche as an outsize clothing retailer has so far proved resilient in what has been a very difficult trading environment for many retailers. We are always happy to provide solutions that enable our customers to compete on the world stage. N Brown is a valued customer and I look forward to an even closer relationship as we continue to support them through the next stage of their development.”
Other stories you may find of interest:
Phones4u turn to Fujitsu/Tata Consultancy Services
Fujitsu Technology Solutions has partnered with Tata Consultancy Services to deliver a PRIMERGY BladeFrame-based dynamic infrastructure to Phones4U, alongside NetApp V-Series storage
William Hill links up with paysafecard
William Hill customers can now use online cash solution, paysafecard, when spending money
Some cheer amongst the gloom
Retailers' IT budgets have been slashed by about 20 per cent over the past year, down from 1.3 per cent to 1.1 per cent as a percentage of sales, according to the latest Martec International IT in Retail report
It’s Not Easy Being Green …Or Is It?
Retailers no longer need to experience the pains of high monetary investment or an uncomfortable shift in normal operations to reduce costs and unnecessary resources.
