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Furniture Specialist Buoyed by £25k NPIF Investment
Nantwich-based household furniture specialist Frank Olsen Furniture has been buoyed by a £25,000 investment from the Northern Powerhouse Investment Fund (NPIF) to support its expansion plans.
The investment was made by NPIF – BFS & MSIF Microfinance, the NPIF product fund managed by Business Finance Solutions (BFS) and MSIF.
Frank Olsen Furniture designs and manufactures a range of bedside, cabinet and TV and media stands, incorporating remote technology to wirelessly charge mobile phones and other handheld devices. With clients including House of Fraser, Bensons for Beds, and Arighi Bianchi, turnover has grown quickly since the company was founded in 2016.
The business received a £25,000 government-backed Start Up Loan managed by BFS earlier this year.
The additional £25,000 investment will now enable the business to purchase the stock required to fulfil confirmed orders as well as bring roles in-house in order to improve margins. The company is also set to create three additional jobs over the investment period.
Charlie Graybrook, managing director at Frank Olsen Furniture, said: “Interest in wireless charging continues to pick up momentum and, with major companies just beginning to explore its capabilities, businesses utilising this technology that have already launched quality products to the market are in a great position to capitalise.
“We have seen first-hand the strong demand for this technology and have been delighted with the response our products have received by customers and major retailers. With this investment from NPIF, we are able to invest in new stock, bring roles in-house and create new jobs, allowing us to build on the strong growth we have already achieved since we launched last year.”Read More
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