Member Article

Coventry's Cash's opens new base a year after being saved from administration

One of Coventry’s oldest manufacturers has sewn up its success by moving into new headquarters a year after it was saved from administration.

Cash’s has established a new 27,000 sq ft factory base in Wheler Road, on the Seven Stars Industrial Estate, where it plans to enhance its operations and continue its growth in the market.

The 169-year-old woven labels and accessories manufacturer was assisted with its move by commercial property agent Reeves & Partners which acting on behalf of private clients, introduced the property to Cash’s UK.

Cash’s was rescued from administration last year after it was bought by its former management team with the financial backing of Jointak, one of its key Hong Kong-based suppliers.

The Jointak Group, with over 1,500 employees over three continents, is fast becoming a global supplier of trims and brand protection solutions, an ideal match for Cash’s.

The company was originally founded by John and Joseph Cash in 1846 and was once one of England’s leading silk ribbon manufacturers.

It has since evolved to supply woven clothing labels, name tags, badges and anti-counterfeit labels to some of the best-known names in the world of fashion, sportswear, retail and major institutions.

Gary Powles, operations director at the firm, said: “Our focus over the last 12 months has been to retain as many of our customers as possible whilst trying to find the right premises.

“After administration, we had to move out of our former factory in Torrington Avenue and initially we were only looking to take forward a small selection of equipment and around half a dozen office staff.

“When we had such positive support from people who had heard that we were back in business we realised it was possible to revise that business plan and move forward on a larger scale.

“The property on Wheler Road was exactly what we were looking for and both the agents Reeves & Partners and the landlord were very helpful.

“The building is more modern than our previous premises further emphasising our desire to move forward. Modern facilities make for a better working environment for the staff, and will also give a positive impression for any visitors.

“It is slightly bigger than we had originally planned but we see that as a positive, as it will give us the flexibility to grow.”

He added: “Over the last year, we have also remained a net exporter to China so it was great to be able to retain as much of our manufacturing processes as possible together with the skills and knowledge of our staff.

“Business is definitely improving. We have been able to increase our workforce to 35 and for the first time in 10 years we have also invested in new machinery. We have also recently secured contracts with two major Italian brands and are currently in talks with around half a dozen others.

“The move to a new factory has allowed us to both internally and externally draw a line in the sand. Although we are determined to try to retain some of our heritage, we also want to re-establish Cash’s as a market leader in the fashion and retail sector.”

Richard Pomfret, of Reeves & Partners, which is based in Coventry and Leamington added: “Cash’s is one of the best-known names in Coventry and we are pleased that such a long-standing firm has been able to remain in the city.

“The focus of the company over the last 12 months has been to relocate its manufacturing operations and the property on Wheler Road offered great potential with sufficient factory space and office facilities.”

This was posted in Bdaily's Members' News section by Matt Joyce .