Customers Case Studies

Supporting businesses throughout the recession

Delima is a North East-based independent fashion retailer which operates 18 stores under the trading names of Van Mildert, Box Clothing and Tucci. In 2007 and 2008 it suffered a fall in trade as consumer spending dropped and the UK slipped into recession. In March 2009 Tucci’s other business partners backed out of the enterprise, leaving the company no choice but to fully incorporate the business as part of Delima.

The move saved seventy jobs and four stores but meant that Delima needed to quickly restructure to manage the enlarged group and refocus its business plan to reflect the changed economic environment.

Lloyds TSB’s specialist team worked closely with Delima so that it was able to access the guidance and working capital facilities it needed, helping it to refocus its offering and restructure operations. Sue Sparrow, Relationship Manager for Lloyds TSB said:

“Delima was a well-run company and its solid business plan and pricing strategy ensured it grew steadily over a period of two decades. However, due to the pressures of the wider economic environment and the unforeseen acquisition of the previously part-owned Tucci brand, the company was put in a challenging position. By building a strong relationship with Delima and through regular dialogue, we’ve worked together to navigate the company through this period of change.”

Now, Delima is recording a 15% increase on like-for-like sales compared to last year and is set to open three new stores this year.

“Lloyds TSB’s support has been invaluable over the past 12 months. Sue quickly understood our business and our ambitions and is always on hand when we need her. She believed in the business from the beginning and gave us the confidence to make some difficult decisions. We’re now seeing a real turnaround in trading and we’re keen to capitalise on the new opportunities the improving economic conditions are expected to bring.”
  - Ken Campling, Group Accountant at Delima.

Our bank managers in local communities

Many customers feel that the traditional role of the bank manager has disappeared. All of the retail banks within Lloyds Banking Group are changing this. We are redefining the role, focusing on traditional customer service and advice.

Lloyds Banking Group has thousands of bank managers across the UK each with, on average, more than 19 years’ banking experience within the Group. Over the last 18 months we have given our bank managers training to ensure that they can help customers who are experiencing financial difficulty.

Lloyds TSB bank managers can:

• Provide expert assistance to get customers’ finances back on track, plan budgets or save for the future.
• Provide practical tips on how to better balance incomings and outgoings.
• Help customers cope with major events, such as moving home, a new baby, retirement or redundancy.
• Make expert introductions where the customer wants to start a new business, move home, or save and invest for the future.