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Topps Tiles secures a £50m five-year finance deal

Published: 6 June 2014
The tile and wood flooring specialist, Topps Tiles, has agreed a new £50m financing package to support future store openings.
Topps Tiles secures a £50m five-year finance deal
The deal has been agreed with the Royal Bank of Scotland and Barclays which both said the revolving credit facility would help Topps Tiles with its store expansion plans and with investment in its existing portfolio.

Topps Tiles chief financial officer Rob Parker said: "We have strengthened our market leadership position significantly in recent years and have a well-established strategy for further expanding our market share.

"We are delighted to continue our relationship with RBS and Barclays and the facility provides a sound platform for our continued expansion."

Relationship director at RBS Manchester, Sam Reynolds, said: "Topps Tiles is a brand that is recognised throughout the country by customers for an excellent range of products and customer service.

"We have developed a strong relationship with the management over the years and look forward to the business fulfilling its strategic growth plan in the coming years."

Topps Tiles currently has 330 stores across the UK, which includes several smaller Boutique stores.

The company has plans to open two more of these new format stores later in the year.

Last month the retailer reported that its first half sales increased by 11.7% to £97.7m.


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