Thornton-based toy supplier Huggables has set up a new 11,000 sq ft warehouse thanks to the support of a six-figure funding package from HSBC.
The acquisition of the new facility located in Thornton will accommodate for the ‘increased demand from new markets,’ for the firm that is now expecting to see 15 per cent increase in annual turnover.
Huggables boasts over 25 years’ experience in supplying the leisure, amusement and retail industry. The Lancashire family-run business supplies a variety of soft and plastic toys throughout the UK.
Many of its products are found in arcades at seaside towns like Blackpool and Lytham St Annes.
The warehouse will enable Huggables to display products in the facility’s showroom and increase stock capacity. It is also expected to create multiple new jobs over the next 12 months.
Neil Chidlaw, managing director of Huggables, said: “Our new Thornton facility meets all our criteria and means we can comfortably welcome both new and existing customers to view our latest product ranges. The additional space also enables us to buy higher quantities of current and new stock, allowing us to offer our customers greater choice at the same great value.”
Laura Lea, commercial manager for HSBC in Lancarshire, added: “Huggables has a strong record in the industry and a loyal customer-base locally. We are keen to harness this and work with the team to help them with growth across the UK.
“The team has ambitious plans for its new facility and I am looking forward to seeing the business reach its objectives.”