The latest piece in the jigsaw that will give fast growing UK flooring distributor Likewise Group plc the storage, cutting and trunking capacity to grow turnover to £300 million has dropped into place.
The Birmingham-based business has exchanged on the freehold purchase of a new 60,000 sq ft high bay distribution hub in Corby in Northamptonshire.
Likewise is paying £9.57 million for the property with completion scheduled for 21 August.
Tony Brewer, chief executive of Likewise, said: “The additional distribution hub in Corby will significantly increase storage, cutting and trunking capacity through the Likewise Floors logistics network when it commences operations in January 2027.
As recently reported, July sales revenue showed a 23.9% increase against the previous year with year-to-date now up 18.3% on a like-for-like basis.
Mr Brewer said both order intake and invoicing in August has started strongly, providing the group with increased impetus as Likewise approaches the traditionally busier Autumn trade.
He said the Group’s successful development could not be achieved without the excellent management and staff throughout the business and thanked them and all stakeholders for their contribution.
He added: ““This is another very important step in the development of Likewise Group.
“With the support of existing and new shareholders, plus appropriate facilities from our principle bankers, we have created significant flexibility for the group to become a meaningfully larger business than we have currently.
“Importantly, we are building capacity for all our manufacturing partners and the ability to provide excellent service levels to independent retailers and flooring contractors.
“Thanks to all for their continued support.”
