Tyneside mattress and seating company Mammoth is set to create new jobs after securing a six-figure investment.
Newcastle based Mammoth has introduced new technologies into its mattresses and seats over the last 10 years, including 鈥榤edical grade鈥 foam, and it has also forged partnerships with the likes of the Chartered Society of Physiotherapy, Premier League football teams and leading universities. Now the company has tapped into investment from the North East Growth Capital Fund through regional fund management firm NEL Fund Managers, which it will use to help drive sales of its recently revamped product range, and it has already secured a 40% increase in retail floor placements for the key winter trading period.
The firm will also recruit new staff and invest in new warehousing for its bedding collection, as well as a new European mainland international showroom, plans for which had been delayed by bad debt suffered as the result of supply chain issues and the challenges of Covid-19. A new bedding manager, global sales project manager and customer service manager are set to join this month, working under managing director Mike Hobson, who joined the business last summer.
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Mammoth founder and CEO John Tuton said: 鈥淢ammoth鈥檚 mission to get people living longer, healthier and happier lives by enabling them to sleep better and sit more comfortably has never been more relevant than it is right now. There鈥檚 no doubt, through no fault of our own, we鈥檝e been through a challenging period over the last two years and weathered some tough trading conditions, which were compounded by the unfortunate loss of suppliers, but it鈥檚 a testament to the team we have in place and the relationships we have built that we鈥檙e now in a position to secure investment and grow once again.
鈥淢ike Hobson鈥檚 role in our turnaround has been critical and, with this funding in place, I鈥檓 confident that we are in the right place to accelerate our growth strategy. The response of our trusted retail stockists to the launch of our new Comfort mattress collection has been fantastic and early signs are that the year ahead will be Mammoth鈥檚 best ever, as we not only grow our 海角视频 footprint but also take Mammoth into new territories.鈥
Senior portfolio executive at NEL Fund Managers, Mark Wharton, added: 鈥淗aving worked closely with Mammoth both prior and throughout the pandemic, I鈥檝e seen how forward-thinking and tenacious John and his team are in their business vision and financial diligence. Over the last two years, they have experienced a period of unprecedented turmoil as a result of the pandemic that would have seen most organisations go to the wall.
鈥淚t鈥檚 taken careful governance and a pragmatic turnaround plan to ensure that Mammoth continues to look forward to a highly successful 2024 and beyond. We鈥檙e excited to see them execute their growth strategy over the coming months and years with their restructured management team and a number of key partnerships in place.鈥
