Burdale Financial Limited, a member of Bank of Ireland Group, has completed a £15 million senior secured Asset Based Lending (“ABL”) facility for The Book People (“the Company”), one of the nation’s largest independent suppliers of top quality books. The facility is to support the Company's current and future working capital requirements.
The Book People is
Britain’s number one direct bookseller and a true home-grown success story, specialising in bringing high quality books at amazingly low prices to customers in their places of work.
Ted Smart, founder of The Book People, commented: “We are delighted to have formed this relationship with Burdale, whose approach to banking and business fits very well with The Book People's ethos. We are confident that the service and facilities provided by Burdale will better serve the needs of our company and will provide the stability and security required to ensure we can continue to grow the business.”
Jon Norton, Director, Structured Finance of Burdale added: “We are pleased to be able to support The Book People’s expansion plans via a comprehensive Asset Based Lending solution and look forward to working with the management team to achieve the Company’s strategic potential.”
