Headmasters Spruce Up Portfolio With HSBC Funding
Headmasters Salons Ltd, the fourth largest hairdressing chain in the UK, has received a £4.5M funding package from HSBC to support the future growth of the business and open several new salons across South East and North London.
Set to open its 55th store this November in Crystal Palace, the chain has already launched a total of eight salons since March 2016 with HSBC’s support. The additional funding provided will support further growth, finance freehold salon property purchases and enable salon refurbishments in existing stores.
A Great Relationship
Keith Meyer, HSBC’s Area Director for Corporate Banking in South London, said: “We have supported Headmasters since 2010 and are delighted to continue our relationship with the business. Headmasters has gone from strength to strength and become one of the most well-known hairdressing brands in the UK. Our latest funding has allowed the company to grow even further.”
A Huge Support
Raju Raymond, CEO of Headmasters, said: “HSBC have been a huge support for us, and this latest round of funding will allow us to reach the key milestone of opening our 55th store, with even more planned for the future. We are so pleased to have been able to update some of our existing stores with a full refurbishment. Our continued growth is testament to the strong financial backing HSBC has always shown us and the brand attracting hair stylists and clients.”
This year, with HSBC’s support, Headmasters opened salons in Beckenham, Esher, Horsham, Windsor, Cobham, Wokingham and Brentwood. Headmasters opened its first salon in Wimbledon in 1982 and now employs over 1,150 staff nationwide.
The funding provided by HSBC came from a £2.1 billion lending fund that was launched in 2017 to support small and medium-sized enterprises (SMEs) in London. The fund is part of a £10bn fund for SMEs across the UK to help British businesses realise their ambitions for growth.
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