Toyland, one of the UKs largest independent toy shop chains has secured a loan with the help and support of ABL Business Ltd to drive forward with growth plans.
Looking to boost the companies purchasing power ahead of the key buying season and expand stock levels at its Bradford Warehouse, the husband-and-wife team needed help navigating the complex finance market. Based in Otley, Toyland was established in 2014, The couple now has ten stores across the North including Blackpool, Darlington, Doncaster, Halifax, Harrogate, Huddersfield, Kendal, Scarborough, and Skipton, employing 59 staff.
Toyland is bucking the trend when it comes to retail and has a focus on growing via stores, with a limited online presence. Gordon, who is managing director, said: "Despite the growth of online retailing, nothing can beat the magic of a real toy shop. Children and parents alike still enjoy the excitement of visiting a store, where they can see and touch the products at firsthand. This finance will provide additional working capital to enable us to manage the seasonal fluctuations in trade, and buy stock in larger quantities at better terms to support our continued growth."
Taryn Preen, Senior Finance Consultant at ABL Business assessed the current position of the business, using the ISO9001 Finance Discovery and Delivery Process, and Identified the Funding Options available to Toyland, to help them raise the much needed £400,000 for growth.
The £400,000 funding, from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, will boost Toyland's purchasing power and enable it to expand stock levels after the company took a lease on a new warehouse in Bradford.
Gary Whitaker of Mercia added: "Toyland has a strong reputation in the industry that allows him access to all the major brands. It's an impressive business that continues to achieve consistent sales and growth."