Independent fabric chain C&H Fabrics has revealed that it plans to relocate to another site in Canterbury after its current store is set to become a bank.

According to reports earlier this year, banking firm Metro Bank are in talks with C&H Fabrics to move into its St George’s Street premises, with the business hoping to secure a new site on St Margaret’s Street before any deal is finalised.

Commenting on the potential deal, Bryan Hamblin, chairman of C&H, said: “We hope to relocate to a store in St Margaret's Street but there is a long way to go in these negotiations and we will not leave our current site unless these negotiations are satisfactory.”

C&H, which has been established since 1933 and is headquartered in Tunbridge Wells, has nine stores across the South East of England.

The company highlighted a minor fall in sales by 1.9% to £14.9m from £15.2m for the year ended 30 April 2015, with profit also shrinking by 27.1% to £242,908.

However, further investments have been planned throughout 2016, with a new website, which hosts over 7,000 transactional products, as well as the continuous improvement in its home furnishings side of the business.