Retail Business Expands with Funding from Barclays

RK-OM Ltd trading as Costcutter today announced new owners and new facilities in store supported with funding from Barclays.

Jitendra and Abhishek Sidhpura, a father and son team from Hull, have acquired Costcutter based at Beckfield Lane, York.  The entrepreneurial pair, who until recently ran a convenience store in Hull, have purchased the business and relocated their families to York.  The store sells a wide range of everyday items and following intensive training they are now also able to provide Post Office services as well.

Abhishek Sidhpura, Director, RK-OM Ltd, said: “We’ve been looking for a larger business to run for some time now and the Costcutter opportunity in York provided us with the opportunity to offer Post Office facilities. The family needed to successfully complete the training before we could be accepted to run the Post Office services and it’s brilliant that we now have these services for the local community and we’ve also extended our hours so that we provide more flexibility for our customers.”

Barclays were able to provide a commercial mortgage for the purchase of the business premises and the living accommodation above.

Amanda Wright, Barclays Business Manager, put together the funding package for the deal and said: “It’s very rewarding working with our customers and helping them to achieve their long held ambitions. Abhishek and Jitendra worked hard to complete the purchase and it’s great to support a local business that is part of the local community. Owning their business premises provides them with more flexibility and storage space to expand for the future and we welcome them to Barclays and look forward to working with them in the future.”