Bolton's H Samson to expand with six-figure RBS support

A motor body repairs firm in Bolton has secured a six-figure debt restructure package and working capital facility from the Royal Bank of Scotland (RBS).

H Samson (Bolton) Ltd is hoping the agreement with RBS will enable it to expand at its base in Warwick House on Bridgeman Street, creating three jobs and potentially increasing its work capacity.

The company’s director, Howard Wolstencroft, said: “H Samson is a household name in Bolton as it has been operating for over 60 years and under my ownership for the last 10 years.

“Our body repair and MOT business complement each other very well as we see a seasonal trend of work throughout the year, the winter months being the busiest time of year for body repair work.”

He added: “We have the capacity on site to build the business even further and with the Royal Bank of Scotland on board this has given us the flexibility to do so.”

H Samson, which has a turnover of £2.4m and currently employs 31 people, plans to consolidate its current MOT business on site and increase its car sales operations.

Last month the firm repaired and serviced 263 vehicles, with that figure forecast to grow each month.

Andrew Minors, a senior relationship manager at RBS, commented: “We are delighted to welcome Howard to the bank and pleased we can help him achieve expansion and forge ahead with growing the business and boosting the local economy with local jobs being created.

“We wish him all the best and look forward to working in partnership as the company evolves.”