Pennells goes for growth with bank funding

Richard Pennell - Pennels, Michael Pickles - Yorkshire Bank, next to the festive display

One of the oldest garden centres in the country is eyeing expansion after securing funding from Clydesdale Bank.

Lincolnshire-based and family owned since 1780, Pennells Garden Centre in Lincoln, has undergone a period of growth over the past few years following the development of a 270-seat restaurant and additional retail space in 2008.

Its latest investment includes a new luxury food hall, featuring a butcher’s counter, an extension to the restaurant with a further 200 seats, 1,500 sq m of additional retail indoor space and a 3,300sq m fully covered plant area. Within the development there are also concessions for Leading Labels Clothing, Pavers Shoes, Field & Trek and Gary Simpson Butchers.

The most recent funding package was delivered by Michael Pickles, relationship manager at Clydesdale Bank’s Business and Private Banking Centre in Lincoln.

The business is managed by the seventh and eighth generations of the Pennell Family, Richard (chairman) and William Pennell (managing director). Pennells aims to continue to grow and serve customers around Lincolnshire and the east of England. As a result of the investment the centre’s staff count has grown by 15, bringing the total number of employees to more than 80.

Richard Pennell said: “We were keen to develop the centre further in order to strengthen the appeal of the business to customers in the Lincoln area. The support we have received from the Clydesdale Bank has been instrumental in helping realise this ambition.”

Katy Simpson, head of Clydesdale Bank’s Lincoln Business and Private Banking Centre, said: “It’s great to work with and be able to support a thriving local business like Pennells Garden Centre. The company demonstrates the incredibly important role enterprising family-owned businesses play in the region and typifies their ambitious nature. We’re particularly pleased to help the business expand its current offering to customers.”