Clothing retailer in Peterborough buys new Â£4 million headquarters in city as it looks to expand its operations
A thriving Peterborough clothing retailer is planning a Â£4 million move to larger premises in the city as it prepares to expand the business
Yours Clothing, which specialises in plus size fashions for women and men, has bought a 142,000 sq ft warehouse, office and distribution centre at Newcombe House, Bakewell Road, Orton Southgate.
The Peterborough founded company, which employs 1,100 people, plans to relocate form its current 85,000 sq ft home in Finmere Park, Southgate Way, in Orton Southgate, before the end of this year.
The new headquarters will continue to house a photography studio and its customers services department.
Andrew Killingsworth, founder and chief executive of Yours Clothing, said: “This is an exciting time for Yours Clothing.
"We are investing in IT and infrastructure and our new enlarged HQ will ensure that the brand is well positioned to deliver on our ambitious growth plans.
"The business is continuing to see strong demand across womenswear and menswear both here in the UK and internationally which reflects the growing demand of our products and the strength of our omni-channel business model."
The company's plans to move into a larger headquarters were flagged up four months ago after it announced an exceptional sales performance.
At the time, Mr Killingsworth refused to reveal the likely location as negotiation were ongoing.
In April, Yours Clothing, which operates more than 135 stores across the UK, reported strong growth figures for its last financial year.
The retailer enjoyed a 22 per cent rise in revenues to Â£88.3 million for 12 months to January 2018, compared to Â£72.1 million in the previous year.
In addition, the company has launched eight country specific websites and in June 2018, the company’s menswear brand, BadRhino opened its first two standalone UK stores which have been well received.
Law firm, Druces LLP advised Yours Clothing on the acquisition of these new premises.
Druces Partner Karen Chapman added: “We were delighted to advise Yours Clothing on their new headquarters, having advised the business from its earliest days."
Yours Clothing were also advised by Steve Hawkins of Peterborough-based commercial agents Barker Storey Matthews.