Fife-based convenience store chain Greens Retail is pushing further ahead with plans to open nine new stores this year after securing a £1.3 million bank funding package.
The money from HSBC will allow Greens, formerly known as Eros, to open sites in Aberdeenshire and Dundee later this year. This follows recent openings in Inverurie, Peterhead, Kinross, Kirriemuir, Shettleston and Fraserburgh, taking the total number of branches to 13.
The expansion is expected to double turnover at the family-owned business and create 160 jobs across all of the new stores.
“We’ve been working to evolve the convenience sector since our arrival in 2014 by concentrating on partnering with local suppliers to provide our stores with fresh produce, Greens directors Harris Aslam said.
"Thanks to HSBC UK, we can continue to do this and reduce food miles, while introducing customers to interesting and exciting suppliers on their doorstep.”
The retailer works in partnership with many other concessions across Scotland including Fisher & Donaldson bakery, Costa Express and Skwishee. Tim Laundon, relationship manager at HSBC, said Greens has a "clear commitment" to serving local communities.
"The opening of these new stores will boost both the local economy and employment in these areas," he said. "We look forward to seeing the success of the new branches over the coming months.”
BoConcept Scottish operation plans more stores as revenues surge
Danish interior design retailer BoConcept is on track to approximately double its annual revenues in Scotland to more than £8 million on the back of store openings and growth in online sales.
Franchisee Adam Davidson, who employs 55 staff across four concessions in Scotland, said order intake for the financial year from April 2021 to March 2022 had been £4.46 million.
He added: “This year we are budgeted for £8.2 million but, with an increased focus on B2B (business-to-business) sales, I expect us to exceed that.”
Store closures slow but tough times lie ahead for high street
The rate of store closures across the UK dropped to the slowest rate for seven years in the first six months of 2022. But openings have still to recover to pre-pandemic levels – and the current economic headwinds may further undermine the viability of the high street.
New research, published by accounting giant PwC with The Local Data Company, signalled that the “shake-out” sparked by the pandemic is complete, with the first half seeing a sharp fall in closures compared with the same period in 2020.
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