CDS Superstores has secured a £190m asset-based revolving credit facility to support further investment in its stores, technology and supply chain.
The parent company of The Range, wilko, Homebase and Bathstore agreed the facility with Wells Fargo Capital Finance, alongside participating banks HSBC and Citi.
The inventory-backed arrangement is more than double the size of the group’s previous facility. It will provide working capital for seasonal trading, store expansion, digital development and other growth opportunities.
CDS has been converting former Homebase locations into new-format The Range Superstores, preserving more than 1,600 jobs. It is also rolling out its Garden Centre by Homebase, Kitchens by Homebase and Bathstore concepts.
Recent openings include stores in Upton and Alnwick, with further locations and formats planned.
The group has also brought its national distribution network in-house and launched an expanded online marketplace with Mirakl. Other investments include AI-powered product discovery using Vertex AI Search and an extended relationship with Amazon Web Services.
Jamie Messham, chief financial officer of CDS Superstores, said: “This new facility is more than double our previous arrangement and provides significant financial flexibility as we continue investing across every part of the business.”
Chief executive Alex Simpkin added: “This facility gives us the confidence and flexibility to continue investing at pace while maintaining the value, choice and convenience our customers expect.”
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