Selco Announces £30m InvestmentFebruary 13th, 2019
Selco Builders Warehouse, one of the UK’s leading builders merchants, is beating the Brexit blues by today announcing a £30 million investment in its thriving business.
Turning the tide of economic doom and gloom surrounding the current political scene, Selco has announced plans to both expand the business and improve the current infrastructure during 2019, creating up to 200 jobs.
Selco already has 66 branches across England and Wales.
Howard Luft, Selco CEO, today unveiled ambitious plans across the business, with the investment including:
- Opening at least two – and up to four – new branches this year, each creating a minimum of 50 jobs
- Major refurbishments of nine existing branches
- Significant investment in Selco’s online operations
- Dramatic improvements to the company’s London logistics model
- £5m funding for permanent price-cuts for UK tradespeople
- Installation of state-of-the-art LED lighting across the network, bringing major environmental benefits
Mr Luft said: “It is impossible to watch TV, listen to the radio or read the news headlines without being consumed by Brexit doom and gloom.
“While there may be challenges ahead, at Selco we continue to see a buoyant marketplace and we are taking real, tangible strides towards investment and expansion, creating more jobs across the country.
“We are currently working towards opening up to four new branches in strategic locations this year.
“Furthermore, we will be spending significant money to refurbish nine branches, improving conditions considerably for our valued customers.
“These are exciting times for the business. We have enjoyed rapid expansion over the last decade, and we are determined to continue moving forward.”
Mr Luft said significant funds will be ploughed into Selco’s online activities with the launch of a new click and deliver initiative, offering free delivery on all orders.
In addition – and with many of Selco’s branches located in London - a revamped logistics model for the capital city will mean a significantly improved delivery service with enhanced availability, more depth of stock and real-time deliveries.
Finally, £5m has been invested in introducing permanent price cuts across a wide range of products.
“These price cuts ensure we remain competitive and give tradespeople a massive helping hand with continuing the success of their businesses, while delivering the first-class customer service we are known for,” said Mr Luft.