Footasylum is accelerating its UK expansion plans after extending its revolving credit facility with HSBC UK from £35m to £60m.
The increased funding will support the next phase of Footasylum’s store rollout programme, with new locations planned in Leeds, Glasgow and Merthyr Tydfil.
As part of the expansion and store upsizing programme, the retailer expects to create more than 80 jobs.
Alongside the new openings, Footasylum will significantly expand its existing stores in Manchester’s Arndale and Trafford centres.
The Arndale location will grow by around 80 per cent to 17,758 sq ft, while the Trafford store will double in size to 17,178 sq ft. Both sites will move into larger, high-footfall positions within the centres.
Nick Scott, chief financial officer at Footasylum, said the funding represents an important step in the company’s growth strategy.
“This funding from HSBC UK marks a significant milestone in our growth journey as we continue to expand our footprint across the UK,” he said.
“This expansion programme will strengthen our ability to deliver best-in-class customer service, while scaling the availability of our highly popular ranges across multiple channels, including in-store and online.”
Warehouse investment to support demand
The funding will also be used to upgrade Footasylum’s 280,000 sq ft warehouse facility in Middleton, Greater Manchester.
The improvements are designed to enhance operational efficiency and support growing demand across both the retailer’s physical stores and ecommerce channels.
Zubayr Atcha, senior global relationship director at HSBC UK, said the bank was pleased to back the next stage of the retailer’s expansion.
“It’s fantastic to support Footasylum with another ambitious phase of its growth strategy, as the business continues to deliver a wide range of products to its customers,” he said.
“Footasylum is a leading force within the UK retail sector and remains fully committed to investing in the high street despite a challenging consumer environment.”
Continued growth at home and abroad
The latest investment follows a period of rapid growth for the retailer. Footasylum opened nine new UK stores in 2025, creating 125 jobs across a range of roles.
Internationally, the company also recently announced plans to open 40 new stores across the Gulf region through a franchise partnership with Apparel Group.
Founded in 2005, Footasylum now operates 65 stores across the UK.
The new HSBC UK revolving credit facility also includes a sustainability improvement loan, meaning the cost of borrowing will be linked to Footasylum’s environmental and social performance, measured through an EcoVadis ESG rating.
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