Sofa retailer boosts presence with bank backing
An East Midlands sofa retailer has acquired its third store in the region after securing a six-figure loan from Yorkshire Bank.
Frank Knighton Suite Centres' new Derby showroom joins sites in Nottingham and Ilkeston. The business has been renting the premises since 2014 to ensure a third store was viable.
Managing director Richard Knighton, who runs the company with brothers Nick and Michael, said: "It had been an ambition of ours for a long time to open a site in Derby, where we felt there was a gap in the market for quality-crafted sofas. We are glad to see our inclination was right and the move has paid off."
Frank Knighton had worked with Yorkshire Bank for 15 years ahead of the deal.
Carl Dickinson, head of Yorkshire Bank’s Business and Private Banking Centre in Leicester, added: "It is fantastic to see a well-established, local family business following through on its ambitions and experiencing a significant increase in sales by doing so.
"As economic conditions continue to improve, Yorkshire Bank remains focused on supporting the growth ambitions of businesses in the Midlands."