Factory outlet discount wholesaler secures almost £1m to expand

A Northamptonshire-based factory outlet discount wholesaler has secured just under £1m from Cambridge & Counties Bank to upgrade its 50,000 sq ft warehouse.M.L. Wakefield Ltd, which trades under the name Fashion Warehouse, will use the funds to redevelop the site’s access and distribution capabilities, as well as its heating and security systems, as it looks to cater for strong customer demand for its products.The Wellingborough-based company was introduced to the Leicester-headquartered bank by broker Rachel Borlace of MAF Property Finance, a division of Midlands Asset Finance Ltd.Established 30 years ago and operated by husband and wife team Martyn and Tina Wakefield, the business now employs 32 people.Works on the Wellingborough facility, which used to be the Dr Marten’s factory, include new solar panels, a new heating, lighting and electrical system and a new entrance from the main road to better accommodate commercial vehicular access.