Released on: November 4, 2009, 4:49 am
Author: Menkind.co.uk
Industry: Retail

£987,000 enterprise fund cash helps ensure new stores are looking good

EXPANSION plans for mens gift and accessories company Menkind Stores certainly created the right impression with the Royal Bank of Scotland, when it agreed to help fund the company’s plans to open five new stores.

The high street bank decided that Menkind could benefit from a little ‘grooming’ if its plans to expand beyond its original single store and launch a cutting-edge new website were to take it to the next level.

So Menkind Stores’ founder, Paul Kraftman, went to his bank manager, Robert Laurie, with his plans, and was put in touch with the administrators of the government’s Enterprise Finance Guarantee (EFG) scheme.

And the bank helped Menkind secure £987,000 of EFG cash which has gone a long way to funding the buying and fitting out of the five new stores. The funding boost has certainly had the desired effect on the business’s fortunes.

“Our new store openings were fitted out in a new concept, which has proven to be a great success in driving sales,” said Mr Kraftman.

“We are grateful to Robert and the team at RBS for arranging the finance package we needed.”

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