Footasylum secures 60 million pounds in funding amid retail expansion

Sportswear retailer Footasylum has secured an extension to its revolving credit facility with HSBC UK, expanding its financing with the bank from 35 million pounds to 60 million pounds.

The new funding comes amid a retail expansion for the retailer, which has confirmed new store locations in Leeds, Glasgow and Merthyr Tydfil. The first will open in March, with further openings to come in April and May.

In addition to new stores, the company is also preparing to upsize and refresh existing locations, including its Arndale and Trafford sites in Manchester, both of which are increasing their scale by up to 100 percent.

The funding will further be used to update Footasylum’s warehousing site in Middleton, Greater Manchester, where the company is looking to enhance operational efficiency to support rising demand both in-store and online.

In a statement, Footasylum chief financial officer, Nick Scott, said the funding “marks a significant milestone in our growth journey as we continue to expand our footprint across the UK”.

He continued: “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.”

Footasylum accelerated its expansion plans in 2025, during which it opened nine new UK stores and confirmed a further 40 new locations in the Gulf region as part of a franchise partnership with Apparel Group.

In total, the company now operates 65 stores, a marker of its ambitious growth strategy, as highlighted by HSBC UK’s senior global relationship director, Zubayr Atcha.

He added: “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. We look forward to seeing how this funding package supports the future success of the business.”