A menswear retailer is aiming to open a host of new high street stores and create about 200 jobs after securing a £6m funding package from HSBC UK.
Leeds-based Skopes which celebrated its 70th anniversary last year, plans to open 15 new stores across the UK over the next two-to-three years.
The new outlets will add the retailer's online offering, multiple department store concessions and existing stores at Westfield in London, Junction 32 and Meadowhall in Sheffield.
The expansion will support the creation of 200 new jobs, across retail, warehouse and office roles - the biggest growth phase the company has seen since its inception in 1948. The total workforce of the business is set to exceed 500.
The £6m funding package from HSBC UK will enable Skopes to strengthen its import channels from China, Bangladesh and Europe. Overall, the expansion plans are expected to increase turnover from £30m to up to £70m over the next three-to-five years.
The family-run company will also ring fence a proportion of the funding for targeted online marketing activity, such as digital and mobile advertising, with online sales currently accounting for about 20 per cent of the total.
Simon Cope, owner and managing director of Skopes, said: "2018 was a big year for us. Seventy years after the business was founded by my grandfather, Sydney Cope, we completely re-branded and the energy this brought propelled our growth forward. "While cultivating a strong digital following is key for us, we believe bricks and mortar stores still have a hugely relevant role in the retail landscape. "We want to capitalise on this by rolling out 15 new stores nationwide. The HSBC UK funding will enable us to create stores that respond to consumer demand and trends which is imperative if we are to remain relevant and attractive to our ever-changing market."