Apple reseller Stormfront wins multimillion-pound finance deal

Company looks to boost store numbers 25 per cent this year

Exeter electronics retailer Stormfront, which has 24 stores across the UK, has been approved for financing from Lloyds to support its ongoing expansion.

According to media reports, the funding has come through the government-sponsored Funding for Lending scheme and will involve potentially six new Stormfront stores being opened across the UK in 2013.

The value of the finance deal was not disclosed.

The four-year-old retailer holds Apple Premium Reseller status. Stores in locations across the UK, including Epsom, Wimbledon, Huddersfield, Romford, Salisbury, Plymouth, York, Stirling, Lincoln, Carmarthen and Inverness target the education, corporate and consumer markets.

The private firm reportedly turned over £22.7m in the 2011 year and expects to reap £40m in the 2012 year.