Express & Star

Warehouse modernisation will create 10 new jobs

The modernisation of a West Bromwich food and drink warehouse will create 10 new jobs.

Published
Peter Fairley, finance director Hyperama, Marcus Singh, managing director Hyperama and Graham Brown, relationship director HSBC

Hyperama, a Nottingham-headquartered cash and carry wholesaler and food distributor, has secured a £15 million finance package from HSBC to refurbish the Richmond Street warehouse, increase its importing capabilities and support its growth ambitions.

It will use part of the HSBC finance package to modernise the site, which will help to improve efficiency and the overall shopping experience for customers.

The business will also use a £2.5 million combined trade and overdraft line to increase imports from the Far East, together with an increase in other working capital lines to support its expansion.

Marcus Singh, managing director of Hyperama, said: “We’re delighted to receive financial support from HSBC UK. Our customers demand an ever-increasing range of food and drink products from overseas and the funding package puts us in a great position to meet this demand. It will also allow us to tap into new trade markets. We plan to continue working closely with our relationship director at the bank, Graham Brown, who will be pivotal in helping us grow Hyperama’s geographical footprint.”

Hyperama partnered with HSBC for the bank’s expertise in global markets and its innovative funding solutions, which are critical for the business as it embarks on an ambitious expansion plan.

Roger Pratt, HSBC UK’s area director for corporate banking in the East Midlands, said: “Our global insight and expertise in supporting businesses that import and export means we can provide more than just financial backing. We share guidance on how to capitalise on new business opportunities and negotiate better deals with suppliers. HSBC UK is dedicated to supporting ambitious businesses in the Midlands and Hyperama is no exception.”

Hyperama is a business that has a long-standing specialism in sourcing food and drink from South and East Asian countries and sells to independent convenience stores and restaurants across the Midlands and beyond.