In order to finance the construction of its new customer fulfilment centre (CFC) at South Strathfield, Booktopia has acquired $12 million in funding.
With built-in flexibility, the new fitout will give the Australian online bookstore more support as it distributes over 12 million products annually. This will enable potential future expansion and lower labour costs.
A $7 million trade finance arrangement with Australian non-bank lender Moneytech and a $5 million short-term unsecured lending facility with AFSG Capital, which “includes funding from major [Booktopia] owners Tony Nash and Steven Traurig,” make up the $12 million.
The company took advantage of the opportunity to move operations to “a larger 20,000sqm cleanskin facility” in South Strathfield when the lease on the Lidcombe site expired at the end of last year.
An “advanced, scalable, flexible robotics platform that will considerably improve put away and picking activities” would be included in the new area, the business claimed.
A “custom-designed layout that will promote an efficient flow of product through the CFC and decrease manual handling” is also reported to be included.
