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September 7, 2011

UK: Regional retailer Booths secures funding for expansion

UK regional retailer Booths has agreed financing deals to fund its "ambitious" expansion plans.

By Dean Best

UK regional retailer Booths has agreed financing deals to fund its “ambitious” expansion plans.

The Preston-based retailer, which has 26 stores in northern England, has refinanced its existing GBP56m (US$89m) debt facility and secured further credit worth GBP37m.

Booths is looking to open more stores and said the first new outlet would open in Manchester next month.

Executive chairman Edwin Booth said: “Booths has exciting times ahead as we look forward to welcoming many new customers through our doors. Achieving growth capital was critical in enabling us to pursue our strategy and we can now move forward at pace and with confidence.”

Officials at Booths could not be reached for further comment.

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