UK regional retailer Booths, which this week secured funding for expansion, has said it is looking to open eight more stores in the next five years.

Booths outlined its expansion plans after announcing it had agreed new financing deals.

“Booths is looking to grow the business organically and open up to possibly 8 stores over the next four to five years with two store openings this year in Media City [in Manchester] and Penrith,” a spokesperson told just-food. “We are looking to continue to develop stores in market towns in the North West as well moving into the city areas particularly around the Manchester area.”

The family-owned retailer is based in Preston and has 26 outlets in northern England.

In the year to the end of March, Booths grew sales and profits. The retailer said its net profit before tax was GBP8.2m (US$13.1m), compared to GBP7.6m a year earlier. Sales were GBP270m, up from GBP269m.

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By GlobalData