Home / Knowledge / News / Apparel/Garments / GE Capital supports menswear retailer Baird
GE Capital supports menswear retailer Baird
02
Aug '10
GE Capital, one of Europe's leading providers of asset based lending, announced that it has provided Baird Group Limited subsidiaries, BMB Clothing Ltd and Worth Valley Menswear Ltd, with £17 million of facilities to support the company's future growth plans.

The facilities, comprising confidential invoice discounting and a revolving stock loan, are expected to provide up to £113 million a year of working capital to the company, in volume terms, over the first year.

The Baird Group is a leading wholesaler and retailer of branded menswear products within the UK. It specialises in the design, manufacture and retail of men's suits, shirts and casual wear and presently has 22% of the men's formalwear market place.

The company's core activity and strength is as a retail concessionaire and high street store operator, with relationships with major concession and brand partners. Baird also has its own chain of retail store operating under the Suits You, Alexandre Savile Row, Racing Green and Jeff Banks fascias, supported by the leading UK dress hire business Young's.

The Baird Group's parent company is Al Arafa Holdings. This company is listed on the Cairo & Alexandria Stock Exchange.

Peter Lucas, Baird Group Limited's Chairman and Chairman of the UK fashion and Textile Industry, said: “We have worked hard through the recent economic turmoil and are grateful that the funding provided by GE Capital provides us with the opportunity to consolidate our position as one of Europe's most dynamic and diverse menswear operations.

GE Capital's approach to this deal, combined with the London team's commitment and expertise, clearly differentiated its offering amongst its competitors. It provided an innovative package with first class service, meaning that the company stood head and shoulders above the competition.”

Andrew Rhymer, Regional Director at GE Capital said: “The retail sector has been one of the hardest hit over the past 18 months, however, due to the diverse business model of the Baird Group limited it has emerged as a strong performing business. We worked closely with the management to ensure we could offer them the most suitable funding solution and demonstrate our commitment to providing businesses with the capital they require.”

Business partners Addleshaw Goddard LLP, Ernst & Young LLP, and Hilco Appraisal Ltd assisted GE Capital in executing this transaction and bringing it across the line successfully.

GE Capital


Must ReadView All

Apparel/Garments | On 18th Aug 2017

Papua New Guinea govt to help set up garment industry

The government of Papua New Guinea (PNG) plans to focus and fund...

Robert Lighthizer speaking at the opening of the ministerial plenary of the 16th Forum of AGOA, in Lome. Courtesy: US Embassy in Togo

Textiles | On 17th Aug 2017

US committed to Africa, Lighthizer tells AGOA forum

The United States and Africa can jointly create a better business...

Courtesy: CBEC

Textiles | On 17th Aug 2017

E-commerce firms need to file monthly statements: CBEC

India’s Central Board of Excise and Customs (CBEC) has clarified that ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.0%
No
17.2%
Skip
13.8%

Total Votes: 29

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
41.4%
No
37.9%
Skip
20.7%

Total Votes: 29

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
82.8%
No
6.9%
Skip
10.3%

Total Votes: 29

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
58.6%
No
10.3%
Skip
31.0%

Total Votes: 29


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X