Member Article

Windermere’s Lakeland agrees £16 million funding deal with RBS

Windermere’s Lakeland, the kitchenware retailer, has agreed a £16 million funding package with The Royal Bank of Scotland (RBS).

The company has recently extended its distribution centre in Kendal, and is continuing to increase its international presence as well as continuing to develop its UK in store and online offering.

The funding provided by RBS is helping to support this activity.

The business has grown significantly with 68 UK stores, over 1900 employees and has a turnover of over £166 million.

Retail & finance director of Lakeland Bob Granger, said: “As one of the UK’s home shopping pioneers with half a century of experience under our belts, Lakeland offer an unrivalled collection of creative kitchenware, practical ideas for the home and garden, and inspiring gifts from all over the world.

“We are focused on expanding our range with innovative products and meeting increased demand.

“With this in mind we have built a strong platform for further UK and international expansion.

“We have developed a close relationship with RBS over a number of years, and have been impressed by their service, attention to detail, responsiveness and by their interest and enthusiasm for our business.”

Relationship Director at RBS Sue Stratton said: “I am delighted to bring Lakeland’s borrowing on board.

“They are a well established and respected family business with a great track record of success.

“The revolving credit facility has been committed for five years and we are confident it will help them shape the future growth of the business.

“We look forward to working together for many years and continuing to develop the banking relationship.”

This was posted in Bdaily's Members' News section by Sophia Taha .