A CONVENIENCE store has expanded thanks to a £100,000 loan from the Development Bank of Wales.

Knighton Costcutter has increased its original space by a quarter and installed new energy-efficient refrigeration and display units, thanks to the loan.

The loan, from the Wales Flexible Investment Fund, has allowed the creation of more retail space at the shop, serving Knighton and its surrounding villages, and the new cases have helped cut its overall energy use by up two thirds.

The business is a longstanding customer of the Development Bank of Wales, with owner John Ewens having bought the Powys town’s store in late 2019 with a £200,000 loan from the Wales Business Loan Fund.

This was followed by a £60,000 injection via the Covid Wales Business Loan Scheme in 2020. 


“I’m really grateful to the Development Bank of Wales for this latest round of investment support,” said John.

“This has given us the chance to take more control of our energy costs, and I wanted to make sure we took steps to future-proof our energy consumption wherever possible.

“The new units have helped us drastically cut overall energy use, and we’re now able to offer an enhanced range of fresh and chilled goods to our customers.”

Stewart Williams, from the Development Bank of Wales, added: “It’s been a real pleasure to work with John these last few years, and the work he’s done to ensure Knighton Costcutter remains competitive and continues to serve communities in this part of Wales has been fantastic.

“The improvements John has had carried out have been a really sensible step in safeguarding the future energy efficiency of his business, and I’m pleased to have worked with him in securing the investment needed.”

The £500 million Wales Flexible Investment Fund is financed by the Welsh Government and Development Bank of Wales. Loans, mezzanine finance and equity investments are available for businesses based in Wales from £25,000 to £10 million.

For more information visit www.developmentbank.wales.