The Store Room, a self-storage company based in Manchester, England, has expanded each of its six locations and plans to increase its workforce by 10 percent, according to the source. The expansion comes after the company secured £2.4 million in funding from Lloyds Bank Commercial Banking.
“Previous self-storage facilities were often in unwelcoming buildings with no one on hand to help or advise customers,” Jeremy Bradburn, owner and managing director of The Store Room, told the source. “Combined, we have more than 40 years’ experience working in the retail sector, so we decided to use those skills to develop a friendly business with approachable, fully trained staff.”
The storage operator expects to double revenue within the next two years, the source reported. Bradburn credited an upturn in the British housing market and increased confidence among companies in spurring the storage business during the last year. “The expansion of our facilities will help us take advantage of these growth opportunities,” he said.
The Lloyds bank loan was made through the Funding for Lending Scheme (FLS). Under the FLS program, banks offer a 1 percent discount for businesses across all sectors for the life of a loan, according to the source.
Established in 2007 and headquartered in Manchester, The Store Room operates self-storage facilities in the English communities of Bradford, Leeds, Leicester, Manchester, Preston and Rotherham.
Sources:
- Manchester Evening News: Expansion in Store for The Store Room
