Outdoor clothing firm goes for growth with £30m deal

Sheffield-based GO Outdoors, the outdoor clothing, camping and equipment retailer, has agreed a three-year financial package with Lloyds Banking Group.

The re-finance deal with Lloyds Bank Corporate Markets in Sheffield includes £12.2m for trade finance in order to bring in new lines and work with suppliers to continue the company’s expansion.

Following the recent opening of its stores in Manchester, York and Stoke, GO Outdoors operates from 30 superstores across the UK.

It plans to open 10 stores, creating around 500 jobs over the next year. It is also increasing investment in its online retail offering. 3i recently completed an investment in GO Outdoors to acquire a significant minority shareholding.

GO Outdoors has developed its North Ridge and Freedom Trail brands, which will account for around 25 per cent of its sales in 2011.

David Hunt, relationship director for Lloyds Bank Corporate Markets in Sheffield, said: “GO Outdoors has outperformed growth forecasts year after year and we are delighted to be able to continue supporting its expansion plans.”

The company was founded as the Camping & Caravanning Centre (CCC) more than 40 years ago with a single store in Sheffield.

GO Outdoors, which has around 1,200 employees, featured in the inaugural Yorkshire Post Fastest 50 list of fast-growing companies published in March. Turnover last year was £114.9m.

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