Bathroom retailer secures £7m funding after making a splash with ‘record’ growth
A South Yorkshire-based bathroom retailer has secured a multi-million pound funding package following a period of ‘record’ growth.
Doncaster-headquartered Victoria Plum has secured a £7m flexible facility from Secure Trust Bank Commercial Finance to support further growth.
The funding follows a ‘record’ performance, with the company reporting £103m in annual sales - up 46 per cent on the previous 12 months.
Victoria Plum’s chief financial officer, Martin Hargreaves, commented: “We are very pleased to partner with Secure Trust Bank to agree this new growth funding package.
“Our market fundamentals are strong, we have the necessary scalable infrastructure in place and a clearly differentiated design and installation service that is experiencing rapidly increasing demand.
“In addition, we continue to utilise the constant stream of valuable data and consumer insight to adapt our product offering to meet our customers’ needs. All of these factors combined mean we are ideally positioned to make Victoria Plum the most differentiated, most trusted and most respected bathroom provider.”
John Gribbon, regional managing director at Secure Trust Bank Commercial Finance, added: “Victoria Plum is a fantastic Yorkshire business with an impressive management team that is committed to customer service.
“Reflecting on the retailer’s expansion in the past 12 months, it is clear to see the real benefits since Endless [owner of Victoria Plum] came on board, and with a clear scalable infrastructure, there’s no doubt it will continue on this trajectory.
“We’re pleased to be building on our relationship with Endless and look forward to continue working with them to support Victoria Plum and other portfolio companies moving forward.”
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