ENTREPRENEUR Billy Gleave, who founded Burnley-based Northern Textiles in 1989, was one of seven finalists for the 1996 Hanson Management Award.
He collected a trophy and cheque for £1,000 from Lord Palumbo at a ceremony in London.
Billy launched Northern Textiles, which manufactures quilts, pillows and mattresses, as a 23-year-old whizz-kid.
The company, which recently won orders from Index, Slumberland and Rosebys, now employs 135 and turnover is expected to top £6 million this year.
The Hanson Management award aims to recognise the achievements of young executives aged 28 to 35.
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