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Savile Row firm secures emergency loan with Danske Bank

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Fashion boss: Jeffrey Doltis

Fashion boss: Jeffrey Doltis

Fashion boss: Jeffrey Doltis

A Savile Row retailer with a distribution centre in Co Londonderry has announced it has secured funding through Danske Bank's participation in the Coronavirus Business Interruption Loan Scheme.

The Savile Row Company, led by Jeffrey Doltis, has said the loan will help it survive the lockdown and reopen later in the year.

The retailer was founded in 1938 and opened a flagship store at 40 Savile Row in London in 1998. Today it has online customers in more than 120 countries, selling men's shirts, suits, silk ties and more.

It's a Northern Ireland-registered company with 27 staff in Magherafelt, which houses its online distribution warehouse, factory shop and call centre.

Staff in Magherafelt also make the bespoke shirts which the company sells online and at its 40 Savile Row business.

Managing director Mr Doltis said: "Before the lockdown, when people were asked to work from home, orders started to fall as immediate worries meant people were not focused on buying clothes.

"We decided to put the entire business on hold rather than continuing with a skeleton staff and putting their welfare at risk.

"The CBILS loan, together with the government furlough scheme, gives us comfort that losses we incur from coronavirus will be controllable and we will be ready to get restarted, hopefully in June, with a view to getting back to normal trading in September or October.

"As restrictions are lifted we hope people will think in a different way about clothing."

Mr Doltis studied at Queen's University and lived in Northern Ireland for 15 years.

Jonathan Elder, corporate banking manager at Danske Bank, said: "Jeffrey and his family have been customers of the bank for a long time and have a very successful business. We hope this loan will help the business to be ready to come back stronger when normal trading resumes."

Belfast Telegraph