The largest independent retailer in East Anglia, the East of England Co-op, has today announced Barclays as its new banking partner, as it continues on its ambitious growth plans.
Chief Finance Officer for the East of England Co-op, James Norman, said: “At the East of England Co-op we wanted a partner to support our growth ambitions now and in the future. As a purpose led, and values driven business we are excited about making a bigger difference to our members, colleagues and customers in our communities and we’re excited to partner with Barclays to help us achieve this.”
With a £30million Revolving Credit Facility, this new partnership will support the East of England Co-op as they continue to expand their trading area, open new stores and branches, refurbish their existing estate and invest in new technologies.
Edd Smith, Relationship Director, Retail and Wholesale for Barclays Corporate Banking, said: “We are pleased to have brought the East of England Co-op over to Barclays and look forward to building a strong, long-term relationship as we support their exciting plans.”
Having opened five new stores and branches in the past 12 months, including expanding into Hertfordshire for the first time and opening one of the most advanced funeral branches in the UK in Norwich, the East of England Co-op is looking to continue its growth. It has already announced plans to open stores in Ipswich Station, Kingsfleet in Thetford, on Woodbridge Road in Ipswich and in the village of East Bergholt, with many more Food stores, Funeral branches and Travel agents in the pipeline.
The retailer plans to also continue its ambitious refurbishment programme across its existing estate, introducing new services for its members and customers, as well as investing in new technologies.
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