Booktopia (ASX:BKG) has secured a $12 million finance package to fund the development of a Customer Fulfilment Centre in South Strathfield, Australia to support over 12 million units per year.
Booktopia Group says the funding package consists of a $7 million trade finance facility and a $5 million short term unsecured debt facility.
It also says once operational in the second quarter of FY24, the new Centre is expected to improve operational efficiencies and margins for the company.
Booktopia says the advanced robotics platform and design of the new Centre will enable it to deliver books in the quickest and most cost-effective way.