Burdale Financial Limited (“Burdale”), a member of Bank of Ireland Group, today (27th April) announced the completion of a £16 million debt refinancing package for Royal Worcester and Spode Ltd. The refinancing will support the company through its restructuring process.
Both Royal Worcester and Spode are recognised global brands with their core business focused on the design, provision and distribution of fine bone china, earthenware and porcelain tableware and giftware, crystal glassware. Recently celebrities, including Jamie Oliver and Laurence Llewelyn-Bowen, have worked with the company to design ranges of tableware and cook and serveware.
Burdale is the sole financial organisation providing facilities of up to £16 million secured against debtors, inventory and property. The refinancing package, agreed with Burdale, will provide Royal Worcester with working capital to support the business through the remainder of its restructuring process. Following a strategic review the management are now confident that it is well positioned for future growth.
