News - Midlands
Smiffy’s fancy £8m deal
Gainsborough-based Smiffy’s, the designer and manufacturer of fancy dress and party fashion costumes, wigs and accessories, has secured £8m of funding from Lloyds TSB’s regional Corporate Markets team. Smiffy’s, which has an annual turnover of £35m and employs over 160 people, predominately in the UK, says it will use the tailored trade finance working capital facility, which combines asset-based lending and import finance, to support expansion plans as it seeks to grow in both new and existing markets in the UK and overseas.