TFM Farm and Country Superstore has opened its newest outlet in Penkridge thanks to a new funding package from Yorkshire Bank.
The family business has grown substantially since its initial business offering in the 1970s, specialising in farming machinery. Now, the superstores cater for agricultural, construction and country living customers, selling everything from power tools to bread bins, boasting over 16,000 product lines.
TFM recently centralised up to 80% of its inventory purchasing by introducing a new state of the art distribution hub in June this year. The distribution centre in Telford services current retail outlets in Stableford, Bridgnorth, Newport and Penkridge as well as facilitating online orders.
The expansion of operations was made possible by a six figure funding package put together by Yorkshire Bank, which has supported the local family business for over a decade.
The workforce has grown by 20% since the start of 2015, increasing the number of local employees from 60 to 72 across all sites.
Mark Littleford, managing director of TFM Superstores, said: “It has been a particularly exciting year for the company. Opening our fourth store emphasises how far the business has come in the past 35 years.
“It is especially pleasing to be able to contribute to the local economy by providing 12 new jobs in the local area.
“Without Yorkshire Bank’s help we wouldn’t have been able to grow at the rate that we’ve experienced.”
Gareth Jones, head of commercial relationships across the Midlands at Yorkshire Bank, said: “Yorkshire Bank is proud to support local businesses striving for growth. TFM is a great example of a business increasing productivity through appropriate investment.
“TFM is a long-standing customer with Yorkshire Bank and we look forward to supporting the growing ambitions of this thriving family firm.”