Full steam ahead for Oswaldtwistle Mills thanks to Haworths

Oswaldtwistle Mills, which sees more than 1.5 million visitors a year, has successfully transitioned through a period of change thanks to a partnership with Haworths Chartered Accountants.

From L to R Paul Spencer, director at Haworths Chartered Accountants and Boyd Hargreaves, managing director at Oswaldtwistle Mills

The company, based in an historic cotton mill in the East Lancashire village of Oswaldtwistle, has changed considerably since it first began welcoming customers 25 years ago and Haworths has been instrumental in helping it manage widespread change for the past three years.

Managing director, Boyd Hargreaves, says: “We were keen to develop the company and wanted to work with an accountant that would help us do that by challenging what was happening within the business.

“Haworths impressed us with their ability to see beyond what was needed to be done and bring new ideas to the table.”

Oswaldtwistle Mills now uses Haworths as an outsourced part of its own team, with director, Paul Spencer fulfilling the role of a non-exec financial director.

“Whenever we need advice we can just pick up the phone to Haworths and tap into their expertise quickly and easily. Having them there as a sounding board for the day-to-day things has been just as useful as the specific help we’ve needed on bigger projects and we know that they’ll always be proactive in making suggestions about where we can make savings or improve our financial management,” says Boyd.

Oswaldtwistle Mills looked to Haworths for support in 2013 when the company secured a funding deal with Barclays worth £3.8m. Boyd adds: “The Haworths team helped us to restructure our balance sheet and prepare our presentations. With their help, we have been able to put more working capital into the business and improve the interest rates we can expect from lenders, giving us a very robust business going forward.”