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Saturday, January 18, 2020

Furniture retailer expands thanks to six-figure funding package

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An Aberdeenshire furniture business is set to almost double its workforce following acquisition of new retail space to meet growing consumer demand, following a six-figure funding package from Bank of Scotland.

Family-run retailer Duncan’s of Banchory has moved to a new 12,000 sq ft premises on Banchory’s North Deeside Road, 3,000 sq ft lager than its previous location on Dee Street.

Ten new full and part-time jobs have been created thanks to the relocation, bringing the team total to 22. The firm also hopes to increase its turnover over the next five years.

The decision to move was made in line with increasing customer demand for additional styles of flooring, furniture, soft furnishers and home décor.

The new location comes with additional retail space to house the new product lines. There is also a host of additional facilities designed to attract more customers. This includes free car parking, a café, outdoor children’s play area and garden.

The funding package from Bank of Scotland was used by the business to contribute to the purchase of the £500,000 new store.

Graham Duncan, partner at Duncan’s of Banchory, said: “Thanks to the quality of goods and our loyal customers, we’ve seen a year-on-year increase in our sales. This led us to acquire the new shop, allowing us to create modern facilities that will continue to appeal to both existing, and new customers.

“It’s our job to keep giving our customers what they want. Having Bank of Scotland by our side has enabled us to enhance the quality of service we’re able to offer.

“We’ve already welcomed significant numbers of new customers through the doors since opening. I’m confident we will continue on this upward trend in line with our growth plans for the next five years.”

Scott Murray, relationship manager at Bank of Scotland, said: “The popularity of online shopping continues to challenge the high street. It’s encouraging to see businesses like Duncan’s of Banchory address the shift in consumer trends by delivering customer experiences through its bricks and mortar store. It’s also great to see the firm create new jobs for the local community.

“Businesses across all sectors need to be well positioned to take advantage of new opportunities as they arise. Recently, we committed to lend up to £1.6 billion to Scottish firms, reinforcing our commitment to helping Scotland prosper.”

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