Furniture retailer charts growth after new funding deal

MIDLANDS retailer Quatropi has purchased the freehold of a new property after concluding a funding deal with HSBC.

The online retailer, which sells indoor and outdoor furniture, completed the deal after receiving a £400,000 Commercial Mortgage from the bank.

The new site, adjacent to Quatropi’s existing showroom, will provide the furniture retailer with additional space to expand its showroom and improve the business’ office facilities, creating a number of new jobs.

Quatropi will seek planning permission this winter to renovate the new freehold property, which will house a larger showroom, an upgraded distribution centre and new offices for its management.

Nuneaton-based Quatropi’s current premises will be converted to warehousing for the retailer after the move.

Julian Scott, managing director of Quatropi, said: “The planned showroom and distribution centre that this new property will house will enable us to hold more stock, more efficiently and ensure we can provide a slick order to delivery process for our customers. HSBC’s support has been essential as we simply wouldn’t have the cash working capital to purchase the building otherwise.”

The family business will look to recruit a further six employees to work across the upgraded showroom and distribution centre when it opens in spring 2017.

Quatropi hopes the investment will increase sales by 30% as the business looks to capitalise on its additional capacity.

Dave Welch, HSBC Area Director for Business Banking , said: “Quatropi needed a larger facility that works for them and enables the business to expand. We’re pleased to have been able to support them in purchasing their new premises, ideally located next to their existing showroom.”