Alteri Investors has invested additional funds into Bensons for Beds to support growth and transformation plans in the retailer.
Bensons will focus further on digital development using part of the funding to integrate its online platform with its chain of stores. It is also set to add further to its chain of 166 stores, aiming to reach 180-190 outlets within the next two years. It will also continue to relocate existing stores into better locations within the towns it currently trades in.
Additional funds will go into its Tewkesbury, Glos distribution centre to increase capacity, speed delivery times and improve customer service.
The retailer has also confirmed the appointment of Gavin Chappell as its chief operating officer. Chappell has held senior operating and executive board positions with Asda, Boots, Dunelm and Holland & Barrett.
Bensons for Beds chair Ian Shepherd said: “This is an important time for Bensons. Alteri’s investment enables us to step up our transformation programme across all areas of the business. We’ve made great progress towards our goal of becoming a market-leading omnichannel retailer. There is still plenty to do and this investment will make a big difference, especially when so many retailers face strong economic headwinds and the impact of high inflation.”