Published: 00:05, 19 August 2014 |
Updated: 10:53, 19 August 2014
Model manufacturer Hornby will begin the move of its warehouse facilities from Margate to a new base in Hersden, near Canterbury, in the coming days.
The company announced the closure of its historic site in Thanet in June, after it revealed a £4.5m annual loss which could yet see the model railway maker leave its headquarters on the Kent coast entirely.
The firm has been based in Margate for 60 years but now the distribution warehouse will be moved to Lakeside Business Park, where they will be run by courier firm DS Logistics.
The company said its new warehouse will help it deal with UK customers more effectively over the key Christmas sales period.
In an interim management statement the company said sales performance to the end of July is in line with expectations, with sales of Airfix and Corgi encouraging.
It said the pre-Christmas period will be an important factor in the overall result of this financial year.
The firm’s net debt was up to £10.7m at the end of July, compared to £7.4m the month before and £7.3m at the end of March.
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