UK-based fashion group Whispering Smith has received a £14mn trade and working capital facility from Barclays.

The loan, arranged in collaboration with DTE Business Advisers, will help the wholesaler and distributor support its import requirements.

Jane Khaliq, relationship director for Barclays Corporate in Manchester, says: “We were able to develop an innovative funding structure by joining trade and working capital together in a way that has not been done before. By continuing to provide the trade and working capital lines to support their ongoing strategic plans, I’m confident Whispering Smith will take full advantage of the opportunities in the markets they operate in.”

Andy Humphrey, corporate finance director at DTE Business Advisers, adds: “Our approach was to work closely and collaboratively with Whispering Smith and Barclays to ensure that the new banking arrangements were suitable for the short, medium and long term. The banking solution offered by Barclays is one which should stand them in good stead for many years.”

With a turnover of £50mn, Whispering Smith has headquarters in Manchester and operations in London, New York, Hong Kong, Madrid and Germany, supplying brands such as French Connection, Blue Inc and New Look.