A Cardiff family have acquired and renovated a popular convenience store in Splott, thanks to a six-figure finance package from HSBC UK.
With the funding provided by the bank, the Cardiff-based Patel family have purchased the independent off-license V&S News and given it a face-lift to establish it as an integral part of the local community as well as offer fresh promotions to customers.
By purchasing V&S News in Splott, the Patel family will be able to open the door to potential growth, including the creation of two additional job opportunities, involving one full-time employee.
This renovation has given the Patels the opportunity to think about growing the shop’s product line and introducing a new section devoted to popular American sweets. The family also hopes to franchise the business locally with HSBC UK’s assistance and establish themselves as a hub for the neighbourhood.
Shreyal Patel, Owner of V&S News, said: “The acquisition of V&S News would not have been possible without the support and financing provided by HSBC UK. This has been a fantastic opportunity which has allowed us to concentrate on serving the community and grow the business.”
“We’ve always wanted to own a business in Cardiff; having moved from London, we love the area, and we’re thrilled HSBC UK has helped us achieve our dream.”
Ian Coulson, Area Director for Business Banking at HSBC UK South Wales, added: “We’re delighted to support V&S News’s efforts to preserve local independent retailers and to have facilitated the family’s growth plans. The newly renovated shop will be a fantastic addition to the local community in Splott.”