The Range owner lands £190M debt facility to fund expansion
What's the deal? CDS SuperstoresDealroom has a profile for this one. Try Dealroom →, the owner of The RangeDealroom has a profile for this one. Try Dealroom →, WilkoDealroom has a profile for this one. Try Dealroom →, Homebase and BathstoreDealroom has a profile for this one. Try Dealroom →, has secured a £190m asset-based revolving credit facility. Wells Fargo Capital FinanceDealroom has a profile for this one. Try Dealroom → led the arrangement, alongside HSBCDealroom has a profile for this one. Try Dealroom → and CitiDealroom has a profile for this one. Try Dealroom →.
The facility is more than double the size of CDS's previous arrangement and is secured against the group's inventory. It provides working capital for seasonal trading, operational investment and future growth.
What's the endgame? CDS said the funding will support investment across its store estate, technology, ecommerce, customer experience and national supply chain. Chief financial officer Jamie Messham said the facility "provides significant financial flexibility as we continue investing across every part of the business."
Why now? The deal follows a period of rapid expansion. In November 2024, CDS acquired the Homebase brand and up to 70 stores out of administration, a move expected to preserve as many as 1,600 jobs.
That acquisition underpinned The Range's larger superstore format, combining Garden Centre by Homebase, Kitchens by Homebase and Bathstore concessions. Openings in Upton and Alnwick show the rollout in action, with more locations planned.
What's behind the tech push? CDS has taken its national distribution network in-house and added AI-powered forecasting and replenishment technology from RelexDealroom has a profile for this one. Try Dealroom →. It has also upgraded The Range's online marketplace through a partnership with Mirakl, which now accounts for almost half of The Range's online sales.
Further investment includes Google Cloud's Vertex AI across ecommerce operations to improve search and personalisation, plus an expanded relationship with Amazon Web ServicesDealroom has a profile for this one. Try Dealroom →.
Chief executive Alex Simpkin said the facility "gives us the confidence and flexibility to continue investing at pace while maintaining the value, choice and convenience our customers expect."
The signal: At £190m, the facility ranks in the 91st percentile among all UK debt rounds tracked. It gives CDS headroom at a time when many retailers are limiting discretionary spending amid higher employment, property and operating costs — betting instead on acquisitions, larger stores and ecommerce to build an integrated multibrand retailer.
Read more: Retail Gazette
Image credit: Gordon Griffiths
