Grocery business gets £68K boost from bank
Epicerie Ludo, a popular Manchester grocer and wine merchant, is set to expand by opening its second store with the support of a five-figure commercial loan from HSBC.
The fine food and wine store in Chorlton, which has built a loyal customer base over the last six years, has worked with HSBC to secure a £68,000 loan that will see its owners, Ludovic Piot and Darren Williams, take on an additional 1,000sq ft premises to meet increasing customer demand.
The opening of the new store will help create five new jobs and will contribute to a projected 40% increase in turnover across the whole business.
Operating under the same name, Epicerie Ludo will open its second site just a few steps from the existing store in the already-popular Beech Road area of Chorlton, and will offer customers a combination of new products and services, including a brand new café and deli, selling fresh olives, cheese and charcuterie as well as freshly prepared sandwiches.
Piot said: “Our decision to open a second site was based on continued growth since our launch in 2011, coupled with increased customer demand for greater delicatessen choices, fresh coffee and seating space, in addition to our fine wine and exclusive groceries lines.
“In response to this, we initially looked to develop our existing premises but in practice, the space available was too limiting and the costs were prohibitive. On hearing that a unit on Beech Road had become available, we decided to explore this route instead.”
Sam Roden, HSBC’s area director for Greater Manchester, said: “Epicerie Ludo is a great example of a local business that is building its success both organically and through additional bank finance. Ludovic and Darren understand exactly what their customers are hungry for and with HSBC’s support, they will now be able to meet this demand.
“We are delighted to be able to help this local business prosper and look forward to watching it as it continues to grow over the coming months and years.”