Within the next two weeks, sugar and spice retailer <STRONG>Julian Graves hopes to secure financial backing from two unnamed venture capitalists to the tune of £5m. The 93-strong chain was already set to grow by 27 new outlets this year, but if the investment is confirmed then the store openings will be accelerated and the company may well source potential acquisition targets.

The company has also revealed that it is set to launch a concessions business soon within garden centres and department stores. 

Nick Shutts, CEO of the group, commented: “We’ve had lots of interest from venture capitalists and will take a venture capitalist with us to push growth further and faster.”