Manufacturer Ebac is in talks with investors and finance firms to aid work on its latest project, despite noting “significant issues” with a decline in trade, accounts show.

The Durham business, which makes washing machines, dehumidifiers, water coolers and heat pumps, has filed delayed accounts for 2022 which also outline a “challenging” few years for the business. In 2022 turnover rose from £20.13m to £21.86m and operating losses narrowed from £3.07m to £2.7m, with the overall loss for the year coming in at £3.19m, down from £3.25m.Ebac is in more talks with financial organisations, saying the group is “well advanced in discussions with other third parties regarding potential equity investment, securing additional debt finance and is also exploring options regarding further connected party loans”.Following publication of the accounts, Mr Elliott said: “These accounts demonstrate that the business is making good progress following a globally challenging time. This has continued into 2023 and 2024 and following investment in bringing new products to the market, our heat pumps and home dehumidifier and ventilation system are attracting considerable interest