Likewise Group plc (LON:LIKE), the fast growing and most progressive flooring distributor in the UK, is very pleased to announce that it has completed the acquisition of the freehold of a new 60,000 square feet High Bay Distribution Hub in Corby, East Midlands, for £9.57 million.
The Corby Hub will significantly add to the storage, cutting and trunking capacity of the Likewise Floors Logistics Network. Installation of racking, cutting table and establishment will commence immediately, with incoming stock towards the end of the year and operational from January 2027.
Corby is a very important investment and will allow the Group to achieve the next aspirational target of £300 million sales revenue.
Following the additional momentum reported in July, the Group continues to trade positively in August, ahead of the traditionally busier Autumn period. A further update will be released on 11 September, with the benefit of August closing and the early trading in September.
Tony Brewer, Chief Executive of Likewise, says:
“Corby represents a particularly important step in the Group’s development, releasing capacity in Birmingham and allowing the Likewise Floors Logistics Network to accelerate. The recent developments at Derby and Newport in addition to Corby will allow the Group to achieve its next objectives.
We continue to evaluate other property investments to further strengthen the Group and the material handling capability with further announcements expected in the coming months.
The Board very much appreciates and thanks all our management and employees along with suppliers, customers, shareholders and all stakeholders for their continued support.”
