HSBC funds Metro Tyres expansion
Part worn tyres must be properly checked and marked to comply with legislation. Significant damage to the tread area and any damage to the sidewall rules out such tyres (Photo: DfT)
Metro Tyres has utilised a six-figure funding package from HSBC UK to complete the purchase of a new 10,500 square foot warehouse in Liverpool. Founded in 2005, Metro Tyres describes itself as “a supplier and wholesaler of second-hand tyres”. The business employs 7 staff and deals with part worn tyres for cars and commercial vans.
According to the company, the newly-acquired warehouse will enable Metro Tyres to meet “increased demand from commercial garages and individual motorists, specifically increasing capacity for the supply of used tyres.”
The new premises is also expected to drive direct customer traffic to Metro Tyres, contributing towards an anticipated 30 per cent increase in turnover.
Jordan Flynn, director of Metro Tyres, said: “We have experienced substantial growth in demand for used tyres over the past two years, something driven by a wave of people seeking more cost-effective yet reliable car parts. Our new site will enable us to meet this continued demand and enjoy further growth across the business for many years to come.”
Charley Hudson, Relationship Manager at HSBC UK, added: “It is great to support Metro Tyres and help the business achieve its next phase of growth. The rising cost of living and scarcity of car parts has led to a shift in demand across the automotive repairs sector and Metro Tyres has done a fantastic job in identifying this trend early and providing a solution of motorists. The new premises offer a host of opportunities for the business and we look forward to seeing the positive impacts to come.”
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