Government backed scheme gives Pendle company £2M shot in the arm to help it through Covid 19 crisis

Nelson-based furniture manufacturer Buoyant Upholstery has secured £2.8m funding from Barclays through the government backed Coronavirus Large Business Interruption Loan Scheme.

The cash will provide additional flexibility and headroom to help the business through the COVID-19 crisis by providing a second funding line. This ensures Buoyant emerges stronger should there be a second lockdown after what has been a difficult time for the industry.

Launched in Nottinghamshire the company, which has operated for more than a century, is now based at Oakbank Mill in Nelson. It manufactures sofas in its two production facilities housed in adjacent sites covering 332,000 sq ft

When the country went into lockdown the company, like so many others, had to furlough the majority of the 600 strong workforce. However, the company’s management took the decision to bring in its sewing machinists and use its factory to help the NHS, by cutting a huge 30,000 PPE gowns per week.

Managing Director Mike Aramayo said: “Despite the challenges and with Barclays support, as one of the largest manufacturers of upholstery in the UK, we had a lot of sewing capacity and a lot of capability to support the

national effort.

"It has been an extraordinary period in our history, but I am proud of the dedication and resilience shown by our staff and we see this as our small contribution to the important work our healthcare professionals are doing on the front-line every day.”

Buoyant Upholstery Chairman Joel Rosenblatt said: “We’ve been banking with Barclays for more than 20 years so I was delighted with the practical support they were able to offer once our manufacturing had been temporarily suspended.

"This additional facility only goes further to support the business with greater flexibility and headroom through what may be uncertain times ahead should a second lockdown come into force."