Auto retailer Perrys Group has secured a significant funding boost following the completion of a £40 million refinancing deal with Lloyds Bank Commercial Banking. The funds will be used to develop retail sites in Preston and Chesterfield, locations which were part of a recent acquisition from the GK Group of five Ford retailers and a Kia franchise in the wider area.

Staff from the Northampton office of law firm Hewitsons advised Perrys Group on the refinancing deal. It already had a relationship with the auto retailer after providing assistance during its 2001 management buyout.