Go Outdoors has secured a £30m credit facility from Lloyds Banking Group to fund its expansion.

The 30-store retailer plans to open a further 10 stores this year.

Last month the outdoor specialist sold a 25% stake in its business to private equity firm 3i and appointed former Tesco director Colin Holmes as chairman. The deal valued Go Outdoors at £90m to £100m.

The retailer reported sales up 57% to £114.9m in the year to January 30. Its like-for-likes grew 10.6% over the year.