Independent Huddersfield department store receives £85k funding boost

Leeds-based finance firm, Access Finance, has provided a lifeline to a major Yorkshire independent retailer in an effort to revitalise the store’s brand.

Fashion store Peters, established in Huddersfield in 1982, is now able to reposition its offering, focusing on shoes, accessories and gifts, including big-brand names such as Radley and Moda in Pelle, after securing an £85k boost from the finance firm.

Peters also relocated to the new Pack Horse shopping centre in Huddersfield last month and the deal has helped the store fit out and launch its new premises.

The 20,000 sq ft store includes a new restaurant, a selection of branded handbags and shoes, as well as a discounted goods department.

Access Finance, which launched in 2014, provides and sources finance for the retail and leisure industry.

Set up by entrepreneurs with a history of raising finance to build up their own businesses, they have used these past experiences to find deals for situations and sectors where it can be tricky to find funding.

David White, the owner of the family run store, said: “Our speciality was mid-range fashion, but nowadays that market is becoming more and more difficult – shoppers tend to be looking for either high-end fashion or inexpensive, everyday clothes.

“Our rebrand fills a different gap in the market and it’s had an incredibly positive reaction so far.”

Matt Haycox, from Access Finance said: “Providing the finance to help Peters Fashions reposition itself has been a real coup for us. Arranging the right funding package for independent retailers can be complicated because each one has a unique business model and its own set of challenges.

“In scenarios like this we always like to get to know the company as well as we can to make sure any finance is a good fit and structured to suit its needs.”

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