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Cash injection for Graham & Green

Independent accessories retailer Graham & Green has received a cash injection from the Royal Bank of Scotland to fund its store roll-out programme.
Graham & Green, which has five stores in London, plans to extend its portfolio to 12 stores by 2010.

It has received an initial £250,000 from RBS to open two stores, including in Chiswick in west London, which opened in August. A second shop is due to open in London in March next year.

The business has grown from £2.5 million sales in 2005 to £6m in 2007, and is aiming to reach between £10m and £12m in sales by 2011.
The retailer had been hunting for a mixture of conventional bank borrowing and asset finance through Lombard Asset Finance to enable it to expand through further store openings.

Graham & Green financial director Brian Shepherd said RBS would give the business more financial support for the next phase of its growth.
“RBS came to us with the best package and a great understanding of our business,” he said.

Shepherd added that Graham & Green is looking for further sites in London, Bath, Brighton, Oxford and Kingston upon Thames.

Its shops average 1,500sq ft. About 50% of the offer is made up of fashion and accessories.

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