UK Nationwide Furniture Retailer – vulnerable sector.


Our client’s incumbent bank had previously supported in all aspects of the business, including merchant services and asset finance for new store refits.

Bank announces it is “uncomfortable” with this retail sector at present and declines to fund the new Bristol store refit totalling £330k.

Working with our partner Retail Merchant Services (UK’s largest independent credit/debit card service provider) we released £300k of cash deposit provision required for this type of facility back into the business.

However mindful of their cash-flow in the current climate the customer wanted to retain this in the business so we also assisted by arranging £220k of asset finance with a non UK high street funder who was willing to take a more pragmatic approach.

Our client was delighted because having always used his Bank for all funding propositions he was unaware of the alternatives.

We were able to re-negotiate his merchant services facility through our partner RMS and release valuable cash-flow back into the business, (additionally reducing ongoing charges), while securing funding of £220k via fixed rate structured debt towards the new shop re-fit.