Business Bio

Cubico is a one-stop-shop for bathrooms and ancillary products, selling to both trade and retail customers via its 15 showrooms as well as a trade counter at their distribution centre. It was setup and is run by the majority shareholder, Craig Waddington, who has been in the industry since 1999.

Loan Amount



Yorkshire and the Humber

Funding Need

Refinance & Working capital


Retail and Wholesale

Their Journey

The tailored repayment profile, which featured an initial 12-month interest only period, was structured by ThinCats to enable the business to drive increasing organic growth, whilst investing in 10 new showroom openings throughout the year, creating 40 new jobs in-store as well as 10 additional roles at Head Office.

Laura Green, Finance Director at Cubico (UK) Ltd commented: “When the business started, it was funded through equity and, as the business has grown, we have been able to take advantage of the opportunity to bring the shares back into company ownership with the management team.  With ambitions to expand our number of showrooms significantly, we sought to refinance the debt on our balance sheet and were introduced to ThinCats via Credit Square in London.”

Laura Green continued: “ThinCats got to grips with what we were trying to achieve very early on, adapting their product to suit our requirements within a bespoke funding package. The facility offers us an additional level of headroom that will allow us to capitalise on the growth that we are experiencing and accelerate our rate of expansion through our new showroom openings. Whereas previously we were looking at opening one store every three months, now thanks to the facility from ThinCats, we will be opening a new showroom every six weeks. Our plan is then to consolidate, maximising our turnover through the new outlets.”

Dave Sherrington, Business Originator at ThinCats added: “This is a great example of a UK business that specialises in delivering stylish and affordable high-end products and deserves the funding to drive further growth and flourish. Cubico (UK) Ltd has developed an established process for successfully identifying and opening new stores. As a relationship-driven funding partner, we looked to gain a strong understanding of the business and its ambitions in order to structure an effective funding solution that will enable it to continue to invest in its store roll out, while maintaining a sufficient cash buffer to reduce pressure on the business as it grows.”



ThinCats got to grips with what we were trying to achieve very early on, adapting their product to suit our requirements within a bespoke funding package

Laura Green - Finance Director, Cubico UK Ltd

Looking For A Business Loan?

We are dedicated to funding SMEs up to £5M through secured lending.


Wish To Introduce Deals?

We are always looking to expand our network of partners.


Our website uses cookies. By continuing you agree to our use of cookies as detailed in our Cookie Policy