Trendy footwear retailer Qube has stacked up more than £40 million capital to support immediate growth of standalone stores, either organically or by acquisition.

With funding guaranteed by tycoon Tom Hunter's West Coast Capital vehicle, the year-old chain will add 10 shops to its existing 10 next year, and has a vision for 150 within five years, according to chief executive Jim McGonigle.

McGonigle set up the Ayrshire-based business a year ago with the help of Office footwear founder Richard Wharton, with financial backing from Hunter.

'Qube stores are very different looking and the brand has potential to do well across the UK and Ireland,' said McGonigle. 'Leases are being signed on 10 stores, and four sites in outer London are being chased.'

Sites with sales areas of between 1,400 sq ft and 4,845 sq ft (130 sq m to 450 sq m) are required, and McGonigle said a chain of stores could be bought if the properties were attractive. Existing stores are in Glasgow's Buchanan Galleries, Braehead, Nottingham, Blackpool, Leamington Spa and the Bullring.

The Qube brand first appeared in West Coast Capital's d2 fashion stores last year, replacing Schuh concessions, and is now available in all 82 shops.

Qube concessions achieved a retained profit of£107,323 last year, according to filed accounts.

- The sale of Rubicon to Shoe Studio Group (SSG) for a reported£130 million was about to be agreed as Retail Week went to press.

Baugur is part of an investment consortium that owns 20 per cent of SSG, a stake that is expected to increase by 10 to 15 percentage points if the acquisition is successful.