Chief financial officer Hugo Loudon said Holiday Extras decided to keep the lending facility open to facilitate its expansion instead of using it for its seasonal cash flow needs after the company reported its best financial year ever.

“Our last financial year was the most successful we’ve ever seen in our 40 years’ trading and given our plans to grow our business we decided that rather than simply closing the borrowing facility we no longer needed for seasonal cash flow, we’d keep it to acquire businesses that we believe support our growth strategy,” he said on Tuesday (11 July). 

“The funding support of NatWest will enable us to power our growth plans and deliver the ambitious strategy we have in place.”

The holiday essentials provider told TTG last month it had returned to profit in the past year, while becoming two to three times larger than it was pre-pandemic – and hopeful of doubling in size again within the next five years.