Sofology has secured a £10m capital investment from the Business Growth Fund (BGF), which will be used to accelerate the retailer's UK expansion in the form of more stores and an expanded delivery fleet and greater digital capacity.
Chief executive Jason Tyldesley says: “Over the past two years, we have made significant investment in the business. This has involved opening new stores and creating a technology-led multichannel platform. We now want to scale-up even further, and accelerate the pace of our roll-out. We felt that BGF – with its minority approach to investing – was the right fit for the team and for Sofology.”
The retailer, based in Warrington, currently operates through 33 stores.