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Thermal garments' manufacturing firm secures GE funding
08 Sep '11
2 min read
Warmwear, a thermal garments' manufacturing company founded in 2010, has secured £1 million in funding from GE Capital.
The St Helens based business uses traditional circular knitted machines to make thermal clothes for some of the UK's blue-chip retailers including BHS, Next and Shop Direct.
For many years now, the thermal knitwear industry in the UK has been witnessing a decline. However, Fiona Smith, Managing Director of Warmwear, is trying to revive the old industry. She is confident that her business will be able to sustain itself by utilizing the skills of former workers of the textile industry.
Ms. Smith has several years experience of working in the thermal knitting industry and has established the company from scratch. Her company bought 45 machines from a Nottingham firm that had gone into administration.
She says about the old machines, one of which dates back to 1923, that they are like vintage cars which need a bit of love and care. They are actually reliable when you get them to work, she adds.
The company is now looking to recruit machinists and knitters and is getting response from people who have been doing other jobs like packers or warehouse operators for the past 10 years. However, they have not forgotten their old job of knitting and skills base still exists, according to Ms. Smith.
Warmwear currently has nine employees and is planning to double the figure in the next two months. In addition, there are some ambitious plans that include creating a website and launch of an exclusive range called Cosy Couture.
The current £1 million investment provided by GE Capital is an asset-based lending to Warmwear.
The St Helens based business uses traditional circular knitted machines to make thermal clothes for some of the UK's blue-chip retailers including BHS, Next and Shop Direct.
For many years now, the thermal knitwear industry in the UK has been witnessing a decline. However, Fiona Smith, Managing Director of Warmwear, is trying to revive the old industry. She is confident that her business will be able to sustain itself by utilizing the skills of former workers of the textile industry.
Ms. Smith has several years experience of working in the thermal knitting industry and has established the company from scratch. Her company bought 45 machines from a Nottingham firm that had gone into administration.
She says about the old machines, one of which dates back to 1923, that they are like vintage cars which need a bit of love and care. They are actually reliable when you get them to work, she adds.
The company is now looking to recruit machinists and knitters and is getting response from people who have been doing other jobs like packers or warehouse operators for the past 10 years. However, they have not forgotten their old job of knitting and skills base still exists, according to Ms. Smith.
Warmwear currently has nine employees and is planning to double the figure in the next two months. In addition, there are some ambitious plans that include creating a website and launch of an exclusive range called Cosy Couture.
The current £1 million investment provided by GE Capital is an asset-based lending to Warmwear.
Fibre2fashion News Desk - India
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