WHOLESALE Domestic, a third-generation family business headquartered in Glasgow, has consolidated its business resources having secured a £4.2million loan from Barclays and is set for investment and growth in 2023 – its 60th anniversary year.
The business is one of the UK’s leading bathroom retailers and in addition to its online store, Wholesale Domestic has four sites across Scotland employing 100 people. The consolidation comes after CEO Brian Toward’s next generation purchase in 2021 and is now supported by a more flexible financing structure provided by Barclays.
Wholesale Domestic has steadily increased turnover in recent years, with the figure likely to reach £19 million in the current financial year.
Brian Toward, Chief Executive of Wholesale Domestic, said: “Under our new financial structure we have already seen increased growth, which we hope will continue into 2023 and beyond. Our national growth strategy will enable Wholesale Domestic to compete at a UK national level, opening doors to new opportunities.
“Barclays’ local presence in Glasgow has been a key investment in the city and was crucial in our decision to select them as our long-term banking partner.
“Barclays have demonstrated their ability to support our growth ambitions through debt funding, card payments via Barclaycard and online banking. Being able to consolidate all our banking arrangements with one provider was a real plus point.”
Jamie Grant, Managing Director of Barclays Corporate Banking in Scotland, added: “Right now, financial consolidation makes sense, and having more flexibility is key for businesses to sustain growth. Wholesale Domestic is a well-known Scottish family business which has worked hard to achieve growth during a precarious time for retailers.
“Our services are geared towards assisting businesses in dealing with one provider for many financial products and we’re very well placed to support growth, consolidation and provide specialist advice based on individual needs.”
