The loan was provided through the Recovery Loan Scheme and will also help the business expand its team and support sales and marketing activities to increase revenue growth.
CW Sellors has received £1.5m funding from Maven Debt Finance, enabling the jewelery company to open a new design and manufacturing facility in Derbyshire that will include a jewelery retail store, showroom space, visitor tours and a cafe. .
The company, founded in 1979, specializes in fine jewelery and luxury watches in the UK and is an authorized retailer of brands such as IWC, Breitling, TAG Heuer, Fope, Mikimoto, Gucci and Faberge.
Chris Laud, Chief Financial Officer of CW Sellors, said: “It has been a pleasure to work with Maven at this important time in our business development. Raising funding can be difficult and often quite painful, but Richard was very pragmatic and supportive.”
Richard Altoft, chief investment officer at Maven, added: “This is a truly exciting time for CW Sellors and the expansion of their design and manufacturing center could ensure that the business prospers in the future. After getting to know Midlands Asset Finance, we are delighted to be able to support the business at this key stage of growth.”