- Type of finance
- Business need
Buying a business
“We help feed other stores and Knighton as a whole. It’s more important than ever to keep our market town alive and thriving. This funding allows my plans to become a reality; the purchase of the store, a redecoration of the exterior, updating the branding, replace the dated equipment and undergo a full refit. Customers expect a satisfying experience when they go into a shop and it’s important to stay on par with the supermarkets.”
The Development Bank of Wales loaned £200,000 to John Ewens to support the leasehold purchase and refurbishment of the Costcutter store in Knighton, Powys.
Sixty-seven year old John saw the opportunity to buy the store as a way to return to his roots a decade after first managing the shop.
John believes the store will help retain and bring new people to the high street in the small mid-Wales town.
Convenience stores in Wales provide almost 23,000 jobs to local people. The investment from the Wales Business Fund helped to safeguard the jobs of 15 members of staff.