Clearance King one of UK’s largest wholesale suppliers is moving into bigger premises in Stockport. They acquired this trading centre with the help of funding from Santander Business Bank.
This family owned business is all ready to cater to the increasing demands, now to their retail clients also. The company sells branded and non-branded fast selling products directly from the manufacturers. They supply with low-cost products, along with a no-minimum order policy. And now with their new warehouse and more storage space, they can stock more. This will surely increase the purchasing power of the business and a result better relationship with the importers.
Clearance King is one successful wholesale business for pound lines and pound shops in Europe and growing to be the largest in the Manchester area. The Santander Business Bank funding can prove to be a milestone in its exponential growth.
Director of Clearance King, Shazada Ahmed, said:
"Thanks to our buying capacity we compete extremely effectively with other major wholesalers and this extra space will help increase our competitiveness even further.
"The funding from the team at Santander has been key to helping Clearance King invest for growth."
To which Afsar Hussain, business relationship director at Santander Business Banking, added:
"Clearance King is positioned right at the heart of the UK's vast value retail sector and this move highlights the firm's appetite for continued success.”
"Its business model is based around a high volume of low-cost goods and we are delighted to help Shazada and his team meet their aspirations for growth."
The loan from Santander Bank supports the acquisition of larger premises with a significant mortgage. Also, a VAT Deferment Loan to free up cash to help renovate the new building. This new place will allow Clearance King to accommodate future growth further.