I’m really grateful to the Development Bank of Wales for this latest round of investment support. This has given us the chance to take more control of our energy costs, and I wanted to make sure we took steps to future-proof our energy consumption wherever possible.
John Ewens, Owner, Knighton Costcutter
Business overview
Knighton Costcutter is a convenience store in Powys, serving the communities of Knighton and the surrounding villages. Convenience stores in Wales remain vital for the local economy, providing almost 23,000 jobs to local people.
Management
John Ewens, Owner, Knighton Costcutter - John has a wealth of experience in the retail sector, having spent most of his career operating chains of convenience stores. He previously managed the store a decade prior to buying the business outright.
Working with us
The business is a longstanding customer of the Development Bank. In 2019, our relationship began when we provided a £200,000 loan from our Wales Business Loan Fund to support John with the leasehold purchase and refurbishment of the store.
Our investment helped safeguard the jobs of 15 members of staff, and John hopes the store will help retain and bring new people to the high street in the small mid-Wales town.
In 2020, we supported Knighton Costcutter with a £60,000 loan via the Covid Wales Business Loan Scheme to help the business navigate the impact of the COVID-19 pandemic.
Funding
- Date of most recent funding round: February 2023
- Size: £100,000
- The fund: Wales Flexible Investment Fund
Our investment allowed Knighton Costcutter to increase in size by a quarter of its original space, which provided much-needed retail space at the shop. The loan also allowed Costcutter to install new energy-efficient refrigeration and display units. The new units have helped cut the business’ overall energy use by up to two thirds.
What people are saying
I’m really grateful to the Development Bank of Wales for this latest round of investment support. This has given us the chance to take more control of our energy costs, and I wanted to make sure we took steps to future-proof our energy consumption wherever possible.
The new units have helped us drastically cut over-all energy use, and we’re now able to offer an enhanced range of fresh and chilled goods to our customers.
John Ewens, Owner, Knighton Costcutter
It’s been a real pleasure to work with John these last few years, and the work he’s done to ensure Knighton Costcutter remains competitive and continues to serve communities in this part of Wales has been fantastic.
The improvements John has had carried out have been a really sensible step in safeguard the future energy-efficiency of his business, and I’m pleased to have worked with him in securing the investment needed.
Stewart Williams, Portfolio Executive, Development Bank of Wales
