Jack Wills is to open 10 new stores in the UK and Asia this year after receiving a cash boost from its principal lender HSBC.
Under the terms of the new agreement, HSBC has agreed to increase Jack Wills’ revolving credit facility by £10m to £30m for the remainder of 2016. The group said it will use the funds to continue its retail expansion. Details on the store locations will be announced later this year.
Jack Wills founder and chief executive Peter Williams said: “This gives us the opportunity to grow the business globally through the summer and on towards Christmas, building on the positive trading we have enjoyed over the past six months.”