Finance
Cookes Group targets growth despite Covid-19
A homeware and storage group is poised to expand its showrooms and storage facilities in Birmingham, Solihull and Sutton Coldfield, despite the Covid crisis. Cookes Group, which celebrates
its 75th anniversary in 2021, has already received a £200k Coronavirus Business Interruption Loan (CBIL) from Lloyds Bank to support the overheads of its three trading businesses – Cookes Furniture, Cookes Storage and two Ripples Bathroom franchises – during the pandemic.
‘We’re now considering how we can best use the available support’
However, following a increase in
people investing in their homes over the summer, the group is now planning to go ahead with expansion plans, to capitalise on growing sales. The £13m turnover group also
plans to add to its 60-strong team, accelerating recruitment plans across its delivery, sales and after- sales departments as it returns to a position of strength and exceeds pre-Covid forecasts for the year. James Pike, managing director at
Cookes Group, said: “Like many retailers, we endured a difficult spring due to enforced closure and had real concerns about the year ahead.
Poised to expand: James Pike with Cookes chairman Graham Cooke
“However, we quickly went into planning mode with Lloyds Bank by our side providing the safety net we needed to continue trading. “We’ve been fortunate that
people are falling in love with their homes again and we’re now considering how we can best use the available support to pursue growth opportunities and to re- invest in the Midlands.” Andy Woolman, relationship
director at Lloyds Bank, said: “Cookes is fast-approaching a major milestone with a strong third-generation leadership team at the helm. Next year will undoubtedly present challenges in the same vein as 2020 but I’m sure it will be a year in which the group celebrates further positive growth.”
Guide helps users keep their finances in check
A ‘financial footprint’ guide to help people keep their finances organised has been created with the help of a Sutton Coldfield marketing agency. Edge Creative has teamed up with KLO Financial Services to design,
create and print the booklet which is described as a factual, informative and supportive guide that encourages clients to future- proof their finances and pass down their legacy. The book is designed to help keep records of important financial
details and, if completed and updated regularly, provides a valuable source of information for client beneficiaries and their advisers. It is be completed by individuals or families and contains prompts
for family wishes, executors of will and power of attorney contact information as well as estate and inheritance planning arrangements. Matt Booton, financial planner at KLO Financial Services, said: “This
easy to use book is robust and designed to be a valuable prompt and lasting source of reference for my clients, their families and additional trusted professionals moving forwards. It allows key information to be collated within one easy to use source.”
December 2020/January 2021 CHAMBERLINK 65
Sector Focus
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