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United Kingdom : A £50m five-year finance deal gained by Topps Tiles

June 7, 2014

The tile and wood flooring expert, Topps Tiles, has approved a new 50m financing package to support future store openings.

The deal has been approved with the Royal Bank of Scotland and Barclays which both said that the revolving credit facility would assist Topps Tiles with its store expansion plans and with investment in its present portfolio.

Topps Tiles chief financial officer Rob Parker said: "We have strengthened our market leadership position significantly in recent years and have a well-established strategy for further expanding our market share.

"We are delighted to continue our relationship with RBS and Barclays and the facility provides a sound platform for our continued expansion."

Relationship director at RBS Manchester, Sam Reynolds, said: "Topps Tiles is a brand that is recognised throughout the country by customers for an excellent range of products and customer service.

"We have developed a strong relationship with the management over the years and look forward to the business fulfilling its strategic growth plan in the coming years."

Topps Tiles at present has 330 stores across the UK, which comprises several smaller Boutique stores.

The company has strategy to launch two more of these new format stores later in the year.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

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