Tyre supplier secures new site with seven-figure funding boost

A West Midlands tyre supplier, GB Tyres, has secured a new warehouse in West Bromwich with the help of a £7.6m funding package from HSBC UK.

The seven-figure commercial mortgage supported the purchase of the £11.5m site, consolidating all of GB Tyres’ storage facilities within the West Midlands, including its existing location in Oldbury.

GB Tyres has hired 10 local employees to staff the new warehouse, with plans for further recruitment in the coming months.

Sukhi Singh, director at GB Tyres, said: “We are excited to open our new warehouse in West Bromwich, which represents a major step forward for GB Tyres. This new facility will enable us to better serve our customers across the UK, supporting our plans to boost sales across the country. With this move complete, we can shift gears to focus on increasing our footprint in Europe, and we look forward to sharing more about our international growth plans soon.”

Gary Riley, relationship director at HSBC UK, said: “The West Midlands is a global hub for innovation in the automotive sector, and we are proud to support GB Tyres in expanding its presence in the region which has created work for local people in the process. Looking ahead, the company has an ambitious growth plan, and we are excited to leverage our international expertise to help achieve these goals.”