Funding deal supports growth at Bathstore
The UK’s leading specialist bathroom retailer, Bathstore, has secured an undisclosed asset-based lending deal with Royal Bank of Scotland’s asset-based lending team to support the firm’s growth strategy.
Following three years of successive, double-digit growth, the facility is set to further support the firm’s strategic expansion, providing working capital funding to facilitate an increase in stock levels which is needed to maintain timely and efficient sales completion. It will also support the company to make significant investments in key areas of its continuously evolving product range.
With 170 stores across the UK, Bathstore is the UK’s leading bathroom retailer selling a vast array of superior quality bathroom suites, baths, showers, basins, toilets, furniture, tiles, taps, accessories, lighting and heating at affordable prices. Bathstore are the only national bathroom retailer that offer a complete customer solution from initial ideas and expert design through to a centrally managed installation service operating across the UK.
Claire Bayliss, chief marketing officer, Bathstore, said:
“We have invested heavily in delivering a best in class end-to-end service proposition from offering customers a free home design service through to expert installation. The facility we have secured with Royal Bank of Scotland’s asset-based lending team will help support our continued focus on developing our service offering and product innovation. The facility is well suited to our needs and will support our cash flow as we focus on achieving our long term business strategy.
“We’ve experienced double digit growth for the last three successive years and the asset-based lending facility will help to ensure that we are still well placed to continue on this path.”
Karolina Minczuk, business development director, Royal Bank of Scotland asset-based lending team, said:
“I am pleased that we have been able to support Bathstore with the funding line. We are delighted we have structured an ABL facility, which unlocks the value ‘trapped’ in a company’s assets and will provide the company with a very flexible line of support as it continues to expand. It has been great to work with the firm to develop a suitable funding solution and we look forward to continuing our relationship with them in the future.”
