Bathroom retailer Easy Bathrooms is set to increase its turnover and staffing levels by 50% following a £13 million cash injection.
The Yorkshire-headquartered retailer employs 670 people across its nationwide chain of stores and the announcement comes after Easy Bathrooms celebrated the milestone of opening its 100th store on Boxing Day. Its rapid expansion is expected to boost turnover for Easy Bathrooms from £62.3m to £95m year on year.
The finance package it secured from Lloyds Bank will allow it to open a new warehouse that will triple pallet capacity from 15,000 to 60,000 and pave the way for the creation of up to 400 new roles.
Easy Bathrooms said that it will continue with its nationwide store roll-out and will invest in its in-house design capabilities ahead of a full range refresh. It opened 32 stores in 2021 and expects to match that rate of growth in 2022.
Easy Bathrooms financial director Laura Green said: “Over the course of the past two years, the home-improvement sector has boomed and we’ve seen demand for our products soar. Like all businesses, we have been pushed to adapt quickly to constantly changing conditions during the pandemic, and for us this meant accelerating our expansion plans to ensure we could keep up with growing customer demand.
“Our new premises gives us the capacity we need to stock the biggest and best range of products for our customers, and help us operate with maximum efficiency, unlocking further growth as we move into the new year.”
From Lloyds Bank, relationship director Mark Butterworth commented: “Easy Bathrooms is an instantly recognisable, trusted British brand, and we are excited to support the team as they embark on this next phase of their growth journey.
“A leading local employer in Yorkshire, they are a prime example of a brand that has expanded at a pace that is impressive, but still sustainable, tapping into market demand without sacrificing the quality they are known for.”