CDS Superstores, the parent company of The Range, Wilko, and Homebase, has secured a £190m asset-based revolving credit facility to support its ongoing investment in stores and technology.
The facility is with Wells Fargo Capital Finance, alongside participant banks HSBC and Citi, and is more than double the size of the retail group’s previous arrangement.
The funding provides additional working capital that will support investment across its store estate, digital capabilities, technology infrastructure and supply chain across the UK to put the business in good stead for long-term growth.
CDS Superstores has recently converted former Homebase stores into The Range Superstores, as well as the rollout of Garden Centre by Homebase, Kitchens by Homebase and Bathstore concepts. The group also continues to evolve its multi-brand retail proposition.
It has also made significant investments in technology, including bringing its national distribution network in-house, launching a marketplace with Mirakl, and has entered partnerships on AI and discovery.
The aim of the facility is to provide scalable funding aligned with requirements across the business to support seasonal trading, investment and future growth opportunities. The funding is secured against the group’s inventory base.
CDS Superstores chief executive Alex Simpkin said: “Everything we do is focused on giving customers more of what they want, where they want it and when they want it. This facility gives us the confidence and flexibility to continue investing at pace while maintaining the value, choice and convenience our customers expect.
“We appreciate the support and expertise demonstrated by Wells Fargo Capital Finance throughout the process and look forward to building on this successful partnership.”
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