A new home
In 1966 the former premises on Chester Road were the subject of compulsory purchase order and the business had to build a new property. A Board meeting agreed that provided the necessary funds could be obtained the Company would do this. Bill Bradley, as Managing Director, went to the Midland Bank and gave his case for a facility of £100,000. The Bank Manager's response was that £30,000 was the maximum allowable. This was insufficient and the Manager asked for the production of the last three years balance sheets. Armed with these the response was £50,000! Bill Bradley said the Company needed £100,000 or they would have to wind up the Company. The Manager asked for two to three days to consider the matter further and then the £100,000 facility was agreed on the condition that the Directors stood as guarantors. The Board response was to wind up the Company! A further visit to the Bank, explaining that the Company should receive £30,000 compensation, disruption of business allowance etc and the offer of the deeds as security brought the agreement to the facility.