A major floorcoverings wholesaler has opened an almost £30m regional distribution centre in Ipswich following delays caused by the outbreak of Covid-19.
Birmingham-headquartered Headlam Group has now opened the 190,000 sq ft site, which was completed on budget at a total cost of approximately £26m, including land acquisition and internal fit-out costs.
The new facility is designed to improve operational efficiencies and enhance capacity, with the group currently expecting the centre to be profit enhancing in 2022.
The news comes amidst the group revealing a 30.6 per cent drop in revenue to £242.1m for the first six months of its financial year.
A statement to the London Stock Exchange said: “The Company is highly appreciative of the support and understanding its stakeholders have shown during this period, which has enabled the most considered approach to reopening, the wellbeing and safety of employees, and cash management which has exceeded the Company’s expectations.”
