Wednesday, August 10, 2022

Yorkshire kitchen worktop retailer targets further growth following £150,000 funding deal

A Yorkshire-based kitchen worktop retailer is targeting further growth after agreeing an additional £150,000 funding deal with Reward Finance Group.

Gemini Worktops, based near York, is one of the UK’s largest suppliers of quartz and solid surface kitchen worktops and has an existing working capital facility with Reward.

Earlier this year the company opened a new showroom at its Mason’s Yard HQ to complement its online business. This is equipped with innovative workspaces that can be used by professional interior designers, architects, builders and developers as a meeting place with clients.

Key to the next stage of Gemini’s growth is investment in stock to ensure it can meet growing demand, which is where the additional funding from Reward Finance Group, via its Business Finance product, is primarily set to help.

In addition to boosting its work surface stocks, the funding will also support the growth plans for Gemini’s sister company Mindful Memorials. This business provides memorials of all kinds to customers via its network of eight branches across Yorkshire, with all products designed and made at its York masonry yard.

Commenting on the new funding deal, Gemini Worktops’ co-owner Matt Rotherham said: “The funding facility provided by Reward Finance Group is tremendous for our business at this point, enabling us to fulfil our growth ambitions and capitalise on the opportunities we see. Being able to invest in stock is key to this, removing a potential barrier to growth, and helping us navigate the well-publicised global supply chain issues that all manufacturers are facing.

“Reward’s flexible approach is refreshing in our experience of working with finance providers, giving us a facility that means we can tap into funds as and when we require. Chris Ibbetson and the team there took time to understand the seasonality and short-term challenges that a business like ours can face and quickly provided a practical solution that will benefit us in so many ways, including being able to continue creating new skilled job opportunities.”

Chris Ibbetson, relationship manager at Reward Finance Group, added: “Our Business Finance solution is ideal for companies like Gemini whose long-term growth plans can be held back due to short-term issues such as stock availability. Building strong relationships with our clients allows us to get close to their business and their ambitions and we are always delighted when we are able to provide additional funding to support them with their plans. We look forward to seeing the company grow as the Gemini Worktops and Mindful Memorials brands develop.”

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