JTD takes on five new staff and launches £1.4m store
HUDDERSFIELD-BASED JTD Building Supplies has hired five more staff and launched a new store aided in part by a £765,000 funding package.
The new store, four times the size of its previous premises, covers two acres and features a newly built 11,000 sq ft shed and outdoor yard, to sell goods to trade customers, DIY enthusiasts and construction firms.
The expansion represents an investment of £1.4m in the new store on New Mill Road, Brockholes, Holmfirth, with the business expecting its main road location to drive more custom through passing trade.
The finance package is from Lloyds Bank Commercial Banking who said the firm was an “impressive company”.
JTD began building its new home in September 2017 so it could relocate from its previous leased unit at Meltham Mills Industrial Estate, which it had outgrown.
Since the business started trading in 2011, it has grown its turnover to more than £3m per annum. The builders’ merchant hopes that the new store will help it to double its revenue in the next two years.
Tony Sharkey, managing director at JTD, said: “Having a larger site with an outside yard ultimately allows us to stock more products and better serve local traders involved in construction, DIY or building maintenance.
“The new store also represents a huge milestone in the fast growth of our business, and we’re confident it will give us the capacity to expand further, alongside Lloyds Bank’s support.”
Ben Cutts, relationship director at Lloyds Bank, said: “JTD is an impressive company that’s experienced remarkable growth since its inception only a few years ago.
“Building a new store while running an existing one can put a strain on a business’s cashflow.
“But support is on hand to help firms to invest in growth without impacting day to day finances.
“We’re supporting fast-growing firms like JTD Building Supplies as part of our helping Britain prosper plan.”