Barclays has provided funding to support one of the largest independent men’s fashion retailers in the UK based in the South West, through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).
Established in 1979 with the launch of its first store in Swindon, John Anthony [Swindon] Ltd, has since added four additional retail outlets at prime locations in Bath, Bristol, Bournemouth and Southampton. The retailer stocks over 50 global brands including Stone Island, Dsquared, Paul Smith and Vivienne Westwood, alongside more niche brands including ETQ.
Over the four decades of trading John Anthony has generated a loyal customer base both in store and more recently online, with the latter enabling the firm to continue to trade during the current lockdown. The funding will help to cover essential fixed costs and loss of revenue from its high street stores.
Mark Brewer, Director at John Anthony, said: “Barclays has supported us over recent times even before COVID-19 hit by helping us to shape and move the company forward. The CBLIS funding will provide a lifeline in what are very uncertain times and to plan ahead for when the lockdown restrictions are eased and consumers can once again shop on the high street.”
Martin Crook, Barclays Relationship Director, Bath, put together the funding package for the deal and added: “We’ve worked with John Anthony since 2011 and have supported their growth over the years so we have a strong relationship and understanding of their business. The COVID-19 pandemic has been so tough on businesses and retailers in particular, however, our strong relationship enabled us to move quickly to support the business so that they can still operate albeit online and prepare for the future through these extraordinary times.”