Discounter creates jobs with £2.8m investment
Discount retailer Yorkshire Trading Company has moved into new headquarters in Driffield and built a warehouse with £2.8m in funding.
The retailer secured the funding via a package from HSBC, which has additionally allowed it to build a 185,000 sq ft warehouse.
120 staff will be employed at the site, and 20 new jobs created to support expansion plans.
Family-run Yorkshire Trading Co. has more than doubled its store portfolio to 26 over the past seven years.
Mark Johnson at Yorkshire Trading Co., said: “We had been operating in a relatively small space but as our sales continued to grow, we needed the financial support to ensure we could match customer demand. With the support of HSBC, we are now in a great position where we can adequately meet staff and customers’ expectations.
“Our new head office has enabled us to provide a comfortable and productive working space for our teams. Similarly, the new warehouse means we can carry more stock so we don’t miss out on increased customer demand or last minute offers.”
Jonathan Rutter, HSBC’s relationship director for Corporate Banking in North Yorkshire, said: “Yorkshire Trading Company is a progressive family business and enjoys a strong reputation in its sector. The company has grown phenomenally over the last decade and therefore needed larger premises in order to continue to grow. We put together a package that would help them address their short-term challenges but also their long-term need for streamlined business processes that would boost profitability.”
Launched in 1954, Yorkshire Trading Co. currently has a turnover in the region of £34m and more than 400 employees across the business.
