Giant stride for footwear retailer as Daniel buys out competitor

Fashion retail entrepreneur Daniel Buck has gone nationwide after buying a competitor in a deal worth £370,000.

His Leeds-based company, Daniel Footwear, acquired three stores operated by Rojo Shoes with support from Barclays Corporate. The acquisition adds two outlets in London and a third in Belfast.

The bank also provided 330,000 for "ongoing organic expansion plans".

Daniel Footwear was founded in Leeds in 1993 with one store. It now operates 25 retail outlets throughout the UK, employing 140 people.

It specialises in men's and women's high-end fashion with designer labels including Prada, D&G, DKNY and Ugg. It also sells accessories such as handbags, jewellery, belts and scarves.

Mr Buck, 42, said the acquisition "plays an integral part in our plans for future growth". He added: "With the new financial structure in place we intend to be pro-active in taking advantage of the opportunities the current climate presents and I'm delighted that we have completed the acquisition so quickly."

Sam Drummond, corporate director at Barclays, said: "It really is a pleasure to see a local company go from strength to strength and buck the current market trend.

"We remain committed to the Yorkshire business market and this deal highlights our appetite to support quality customers in

a tough market."

Most recent company accounts, for the year ending October 2009, show turnover of 8m, up from 7.3m the previous year. The company made a pre-tax profit of 392,000.