CTN chain Finlays is poised to break into The Grocer’s Top 50 list of independent retailers next year, having grown its estate dramatically from three to 20 stores within six months.
MD William Gandy bought the privately owned and operated company, based in Newcastle with outlets scattered across the north of England, six months ago. He said he already had his eyes on two more potential store acquisitions.
Based on current weekly takings, Gandy has projected that the chain’s sales will reach £8.5m in the next full financial year. That would put it on a par with fellow independent CTN retailer Maynews and Chalfont Foodhalls, number 49 and 50 respectively in the Top 50 listings.
Gandy said that he aimed to maintain Finlays’ CTN roots for now. However, he added that he was considering converting two Finlays shops into a more conventional c-store format.