CDS Superstores secures £190m credit facility to fund expansion
CDS Superstores, the owner of The Range, Wilko, Homebase and Bathstore, has secured a new £190 million revolving credit facility to fund store and technology investment.
Arranged with Wells Fargo Capital Finance alongside HSBC and Citi, the facility will provide additional working capital to support improvements in the company’s store estate, digital capabilities, technology infrastructure and supply chain. It will also be used to strengthen the business for long-term growth.
Subscribe to TRBThe news follows a sustained period of investment across the group, including the conversion of former Homebase stores into new format The Range Superstores, and the rollout of the Garden Centre by Homebase, Kitchens by Homebase, and Bathstore concepts.
CDS Superstores has also recently expanded its store footprint with new openings in Upton and Alnwick.
Alex Simpkin, chief executive at CDS Superstores, said: “Everything we do is focused on giving customers more of what they want, where they want it and when they want it.
“This facility gives us the confidence and flexibility to continue investing at pace while maintaining the value, choice and convenience our customers expect.”
Jamie Messham, chief financial officer at CDS Superstores, said: “This new facility is more than double our previous arrangement and provides significant financial flexibility as we continue investing across every part of the business.”
