Bosses at Thornbury clothing firm seek Stock Market investors (From Gazette Series)

Bosses at Thornbury clothing firm seek Stock Market investors

8:30am Wednesday 17th March 2010 in

• Skip social links
• Print
• Email
• Comments(0)

BOSSES at a Thornbury-based clothing firm have said they are confident they can turn the company’s fortunes around.

Alexandra Plc, on Midland Way, has announced this week that it hopes to raise vital cash funds for the company by approaching potential investors on the Stock Market.

Last summer the company returned a £10 million loss and saw sales slump 17 percent in the six months to July last year.

Tim Gifford, chief executive, said: "Alexandra is going to the market to raise funds to improve our funds.

"We will put together a document, which gives a fair reflection of the company and its future prospects and then we take it out to a lot of investors and ask if they would like to invest."

The corporate clothing firm employs 220 people in Thornbury and a further 50 in nearby Aztec West. Nationally, at shops and warehouses, the company employs nearly 500 people.

Mr Gifford took over as chief executive at the firm last July. He joined the firm along with Elaine New, who became the company’s finance director.

Mr Gifford said: "I hope we have got an attractive proposition for the investors. It will be good for the local area and it will be nice to stop all the rumours about the demise of Alexandra.

"I am reasonably confident that there are investors out there who will support us."

Alexandra Plc first started as a small shop in Bristol, in 1854. The company started to sell work wear in the 1950s and was first floated on the Stock Market in 1985.

Mr Gifford said: "It’s a great company. We just need to get the financial side in order. I am sure we can recover the position of the number one company in the market."

Before its financial difficulties of the last 12 months, Alexandra Plc has enjoyed much success including featuring on the ITV show Undress the Nation with Trinny and Susannah and providing the chefs' outfits and waiters' uniforms for Channel 4’s Hell's Kitchen.