New showroom will boost kitchen firm’s revenues by 30%
A West Midlands kitchen business has opened a new showroom in Birmingham after securing a six-figure funding package from Lloyds Bank.
Read time: 5 mins Added: 28/06/2019
Classic Interiors, established in 1987, is a second-generation family-run firm which already has three showrooms in Solihull, Redditch and Worcester.
The business designs and installs around 200 kitchens each year, and this is predicted to reach more than 300 in the year ending April 2020 as a result of the new showroom.
In a move to expand its customer base, the business turned to Lloyds Bank to assist with financing the renovation of the property in Edgbaston.
Moving swiftly to secure opportunity
The fourth site is Classic Interiors’ largest showroom with two floors and 3,500sq ft of space, which opened in April.
Five new jobs have been created by the opening and the new site is expected to increase the firm’s annual turnover by up to 30 per cent over the next 12 months.
"The new store will significantly increase our footfall and ultimately the company’s turnover."
Maxwell Davies, director, Classic Interiors
With the funding, the business has installed a mezzanine floor and carried out extensive renovation and shop fit-out works to accommodate the display of seven lifestyle kitchens for customers to view.
Maxwell Davies added: "We were thrilled to find premises in Edgbaston Village, it’s become a thriving leisure and shopping destination and it’s just a mile from Birmingham City Centre.
"We switched to Lloyds Bank in 2018, and since then the relationship managers have been by our side and ensured that everything has moved swiftly."
"We’re committed to helping Britain prosper, so it's fantastic to see the expansion set to increase turnover by as much as 30 per cent and five new jobs created locally."
Mark Corfield, relationship manager, Lloyds Bank Commercial Banking
Committed to funding growth
Mark Corfield added: "Opening up in Edgbaston was a natural next step for Classic Interiors and the business was just waiting for the right property to come up.
"To help businesses like Classic Interiors capitalise on opportunities for growth, we recently announced that we would be lending up to £2.5billion to West Midlands firms in 2019."
All lending is subject to status.
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