Hyperama, a Nottingham-headquartered cash and carry wholesaler, has secured a £15m finance package to refurbish its warehouse, increase its importing capabilities and support its growth ambitions.
The business sources food and drink from South and East Asian countries and sells to independent convenience stores and restaurants across the Midlands and beyond.
Hyperama will now use part of the HSBC UK finance package to modernise its West Bromwich site, which will help to improve efficiency and the overall shopping experience for customers.
The business will also use a £2.5m combined trade and overdraft line to increase imports from the Far East, together with an increase in other working capital lines to support its expansion.
Hyperama hopes to create up to 10 new jobs for the local economy as a result of the funding from, as well as expand nationally.
Marcus Singh, managing director of Hyperama, said: “We’re delighted to receive financial support from HSBC UK. Our customers demand an ever-increasing range of food and drink products from overseas and the funding package puts us in a great position to meet this demand. It will also allow us to tap into new trade markets. We plan to continue working closely with our relationship director at the bank, Graham Brown, who will be pivotal in helping us grow Hyperama’s geographical footprint.”
Roger Pratt, HSBC UK’s area director for corporate banking in the East Midlands, said: “Our global insight and expertise in supporting businesses that import and export means we can provide more than just financial backing. We share guidance on how to capitalise on new business opportunities and negotiate better deals with suppliers. HSBC UK is dedicated to supporting ambitious businesses in the Midlands and Hyperama is no exception.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement