Banks ‘not supporting’ corner shops

A FOOD and drink wholesaler has hit out at a lack of support from the banks for corner shops as they face increasing competition from supermarkets.

Simon Hannah, managing director at Glasgow-based JW Filshill, said: “The banks are not supporting our customers. The grocery multiples see the convenience sector as an increasingly lucrative one and existing independent stores come under pressure every time a Tesco Express or Sainsbury’s Local opens in their neighbourhood.

“With Morrisons also planning to move into our sector, it means our customers need even more help if they are to remain profitable and competitive.”

Filshill, which owns the KeyStore brand used by 170 shops in Scotland and northern England, saw its profits fall to £272,000 in the year to 31 January from £902,000 a year earlier after investing in its warehouse and marketing. Turnover dipped by 2 per cent to £165.4 million.