Nisa secures £100m refinancing to help with company’s future growth plans

Nisa is a member-owned organisation, which helps independent retailers remain competitive in the food and drink markets.

Scunthorpe-based Nisa has 1,080 members, who operate more than 3,750 stores throughout the UK.

Over the past five years, the company has seen its turnover grow by 50 per cent to £1.5bn.

According to Nisa, this has given rise to additional funding needs. Working with Barclays, Nisa now has access to a £100m ‘multi-product solution’, co-ordinated across the bank’s debt finance, sales and trade finance teams.

Simon Webster, Nisa Retail’s finance director, said: “We’ve completely overhauled the funding structure to reflect and support the significant growth that the business has experienced over the last five years.

“The new funding from Barclays will allow us to plan future growth with confidence and provide the flexibility with the potential to actually reduce our associated funding costs.”

Nisa plans to develop and extend its business activities throughout the UK in support of its members’ independent convenience store network. Nisa plans to provide further help with store refits, branding initiatives and investment in product margin.

Graham Holland, Barclays’ relationship director, added: “Nisa’s business activities reach out into the very heartland of Britain as a nation of independent entrepreneurs.

“The last four years have been a dynamic time for Nisa with significant growth despite the economic and market condi- tions.

“The management team impressed us with their strategic growth plans.”

Nisa was formed in 1977 to protect the interests of independent retailers against the growth of the big retailers.

Today, Nisa members can benefit from a support package provided by the member support centre in Scunthorpe, which includes a trading team.

[email protected]