Asset-based funding to boost retailer’s physical and online presence
- Ann Summers secures £8m funding from Secure Trust Bank Commercial Finance
- Funding will bolster physical and online retail offerings
- Increases working capital across the business
- Chief Financial Officer John Boyle praises collaboration with STB team
British retailer Ann Summers has secured £8 million in asset-based funding from Secure Trust Bank Commercial Finance, aiming to bolster its physical and online retail offerings while increasing working capital across the business. Ann Summers CFO John Boyle expressed his satisfaction with the collaboration, stating that it’s been great to work with STB and their understanding of the company’s objectives. STB CF regional sales director Tony Young added that this funding is an example of how Asset-Based Lending (ABL) can support retailers in financing growth. The partnership will help Ann Summers build its omnichannel proposition in a rapidly evolving sector.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Ann Summers securing £8m in funding from Secure Trust Bank Commercial Finance for growth and expansion, with quotes from relevant parties involved.
Noise Level: 3
Noise Justification: The article provides relevant information about a retailer securing funding for growth and expansion, with quotes from key stakeholders. It is concise and stays on topic without diving into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Ann Summers and Secure Trust Bank Commercial Finance
Financial Rating Justification: The article discusses a financial transaction between Ann Summers and Secure Trust Bank Commercial Finance, which involves asset-based funding to support the retailer’s growth and improve its omnichannel proposition. This has implications for both companies involved in the deal and potentially impacts their financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text
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