Jerseytex buys new Tipton warehouse
A Black Countrys textile manufacturer, which has seen sales triple in the last five years, has bought a new warehouse and digital stock inventory system with financial support from Barclays.
Jerseytex has purchased the 90,000 sq ft site in Tipton where it now operates a barcoded digital stock inventory system which enables it to fulfil orders quickly and accurately.
The company manufactures, imports and supplies high quality knitted fabrics and printed fabrics to the UK and European fashion industry. It currently operates more than 80 knitting machines with a fabric production capacity of over 60 tonnes per week.
The family business was established in 1977 by Teja Singh. Today it is managed by sons Bal and Pritpal with a manufacturing plant in Tipton and a dye house in Leicester, as well as the new warehouse and employs 120 staff.
Bal Sidhu, managing director of Jerseytex, said: "We have worked hard to grow the business and to open up new markets. We have also achieved growth by sourcing complimentary products from overseas and this year we expect our turnover to exceed £17 million."
Andy Perry, relationship director at Barclays said: "The increase in sales has resulted in higher stock levels being carried by the business which have been funded using our trade finance facilities.
"Jerseytex saw an opportunity to expand their existing product range by increasing their imports from the Far East. By fully understanding the businesses trading cycling and with the support of Barclays Trade & Working Capital local specialist Max Morgan, we are able to provide bespoke funding solutions to meet the needs of this customer.
"As a result of this, Jerseytex is now in a position to service new orders directly from UK warehoused stock, improving the service to its clients."
Mr Perry added: "The purchase of the new site which has enabled the business to restructure operations by centralising all stock into a single site, managed via barcoded digital stock inventory management systems. This will provide a great platform on which to continue grow the business in the future."
In addition, the business has built new offices at their Bridge Road manufacturing site as well as a modern showroom to demonstrate the company's growing product range which in turn has created new jobs locally.
