Matalan agrees £18m Lloyds loan

A Matalan vehicle which owns its new distribution centre in Knowsley has secured an £18m loan with Lloyds Bank.

The four-year deal with Isle of Man-registered Delderfield Knowsley, which is owned by founder John Hargreaves, refinances Yorkshire Bank’s previous facility and includes development finance for a 100,000 sq ft extension.

A fund associated with Matalan bought the 400,000 sq ft Galaxy shed and 46 acres of surrounding land at the former Petrolite site off Acornfield Road in late 2010.

The retailer is moving from Skelmersdale to the site where it is also building a 130,000 sq ft headquarters office.

Chris O’Brien, from Delderfield, said: “The distribution centre is a key strategic hub for the Matalan Group. With Lloyds Bank’s support, we will be able assist in improving its operational efficiency and build capacity for growth in existing and new markets.”