Thursday, November 23, 2017

Barclays backing 99p Stores store rollout with £25m investment

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Barclays has extended its banking facilities with 99p Stores to £25m which will help accelerate new store openings from 2014.

The general merchandiser, which was founded in 2001, will roll out 70 stores between now and the end of 2015 – taking its stores to 310.

Nadir Lalani, Chief Executive, 99p Stores Limited said he was very proud of the retailers growth so far and saw “substantial opportunity” to grow much further.

He said the Barclays package would allow it “to move quickly to the next stage of growth” by giving more consumers access to its proposition, which includes 30 Family Bargain centres.

Glen McDonald, Relationship Director at Barclays Northampton & Milton Keynes said: “99p Stores and Family Bargains is a fantastic success story in what is a very challenging environment for retailers.”