Outdoor clothing and equipment retailer Go Outdoors has secured £18 million from the Bank of Scotland to help fund its expansion.
Go Outdoors struck the deal with Bank of Scotland Corporate to assist with the growth of its nine-store portfolio, which includes Sheffield, Coventry, Oxford, Wigan and the recently opened store in Coatbridge, Scotland.
The refinancing package includes asset finance, a term loan and a revolving credit facility.
Go Outdoors was founded 40 years ago with a single store in Sheffield, where it still has its headquarters. The retailer has been expanding its store portfolio since 2004 and plans to open a number of superstores across the country.
Go Outdoors managing director John Graham said: “These are exciting times for Go Outdoors. We have already established a very successful outdoors retail model. Our plan is to build on this by opening more large destination stores.”