Construction and Infrastructure
Rapid demand sees door and window specialist let in £700,000 of investment
An investment of close to three quarters of a million pounds has been made by well-known Gloucestershire firm Glevum as it positions itself to take advantage post lockdown.
According to the Newnham-based installer of windows, doors and conservatories, the money - £700,000 – enables it to ramp up operations to meet pent up demand as the construction sector returns to work.
Apparently, demand is coming from both domestic and trade customers unable to complete projects due to the lockdown of the last two months.
Gary Jones, founder and managing director at Glevum, said: “Our pipeline of business for new-build projects, accounting for 70 per cent of our income, was the strongest it had ever been before the lockdown.
“Despite the slowdown, we're confident that we can build our way back to the strong trajectory we were on.
“Looking at our domestic business - when homeowners spend any amount of prolonged time at home, typically over the Christmas break, it makes them realise where they want to improve their homes.
“We’ve actually had a higher number of enquiries than usual about conservatories from homeowners, for example.”
The firm’s income disappeared almost overnight when the lockdown was announced as new-build housing developments and home improvement projects stopped in their tracks.
The £700,000, made possible by Lloyds Bank as part of the Coronavirus Business Interruption Loan Scheme, allows it to meet the cost of increasing capacity after two months of reduced revenues.