CHRISTCHURCH FOOTWEAR FIRM STEPS INTO LARGER PREMISES WITH HSBC UK FUNDING

A footwear supplier in Christchurch, Dorset, has secured a finance package of over £1.3m from HSBC UK to acquire and fit-out larger premises in Poole.

 

Drooth Ltd has used the HSBC UK funding to move its operations from its 9,000 sq ft premises in Christchurch to a 50,000 sq ft space in Poole, enabling the business to increase its distribution capacity, quadruple the size of its space and create new jobs further down the line.

 

David Ross, Managing Director at Drooth, said: “We’re fortunate that the pandemic has not affected our expansion plans as online demand for the brands we supply has continued to increase. When I started the company in 2009, we were in a 4,000 sq ft building, so it’s great to have been able to expand over the years and move to a space that’s four times bigger.

 

“The finance package from HSBC UK has been extremely helpful in fulfilling our business expansion plans. We wouldn’t be in the position we are today without the help of our relationship manager at the bank, James Allingham, who ensured the process ran seamlessly.”

 

Jane Fancy, Area Director, Hampshire & Dorset at HSBC UK, added: “Drooth is a great example of a company that is committed to expanding its services across the country and Europe. It’s been very rewarding to see the business flourish over the years and we look forward to seeing the team continuing to grow from the new site.”

 

Drooth, which currently employs 10 people, supplies well-known footwear brands T.U.K. Shoes and Hey Dude to both the UK and Europe. Hey Dude offers laid-back, super-light canvas shoes for both men and women, while T.U.K Shoes, a company born in San Diego, creates bold, original footwear for men and women inspired by artists, bands and music fanatics.

 

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Media enquiries to:

Alicia Squadrone                  alicia.squadrone@grayling.com

Twitter: @HSBC_UK/@HSBCUKBusiness

 

For the latest news and updates, visit the HSBC UK newsroom:

https://www.about.hsbc.co.uk/news-and-media

 

Note to editors:

 

 

HSBC UK

HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,984bn at 31 December 2020, HSBC is one of the world’s largest banking and financial services organisations.