Likewise has secured the £9.57m purchase of its planned Corby distribution centre amid a strong start to August.
The flooring distributor says completion is expected
on the 60,000sqft unit on 21 August, with operations expected to begin in January.
This will ‘significantly increase storage, cutting
and trunking capacity’ across the distributor’s
logistics network.
‘Both order intake and invoicing in August has started strongly, providing the group with increased impetus as we approach the traditionally busier Autumn trade,’ it says.
Sales in July were 23.9% higher, with the year now ahead by 18.3%.
Earlier this month the group secured almost £30m
from shareholders to fund its expansion, with its institutional and retail offers oversubscribed.
‘This is another very important step in the development of Likewise Group. With the support of existing and new shareholders, plus appropriate facilities from our principal bankers, creates significant flexibility for the group to become a meaningfully larger business than we have currently. Importantly, providing the capacity to all our manufacturing partners and the subsequent service levels to independent retailers and flooring contractors,’ says Tony Brewer, Likewise chief executive.
