A clothing retailer is expanding its Peterborough operations with the purchase of a major site in the city in a move expected to create jobs.
AK Retail Holdings, which owns Yours Clothing and BadRhino, has completed a ‘significant investment’ to buy the 128,567 square feet Orton 130 warehouse in Bakewell Road, Orton Southgate.
The move comes just weeks after it was announced that the retailer had agreed a 10 year lease on the premises, which were formally used by engineering giants Perkins Engines.
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The premises are adjacent to Yours Clothing’s existing premises in Bakewell Road, which were bought for £4 million four years ago.
The company currently employs 1,391 staff with the new addition expected to allow the recruitment of more employees.
Andrew Killingsworth, owner and chief executive of AK Retail, which also includes Long Tall Sally and PixieGirl and sells its plus-sized clothing into 100 countries, said: “This latest purchase represents significant investment in the city, allowing for further expansion to meet the growing needs of the business.
"We now have a combined footprint of over 250,000 square feet in Peterborough and warehouse distribution alone now employs over 350 people.
"The group is proud to call Peterborough its home and we look forward to developing further within the city”
Steve Hawkins, a partner for commercial agents Eddisons, which acted on behalf of AK Retail in the purchase, said: “We are pleased to have advised our clients in this latest property deal which is great news for Peterborough.
"Our client’s intention is now to expand the facility further and we will be in discussion with Peterborough City Council shortly.”
The company’s expansion plans come despite growing uncertainty in the UK economy with inflation at a 40 years high of 9.1 per cent, rising interest rates and mounting concerns over spiralling energy and fuel costs.
But it will not be the first time that Yours Clothing has overcome adverse trading conditions.
During the Covid-19 pandemic, the company was highlight by the Sunday Times as one that was likely to help lead the country’s return to growth as it was named among the top 200 companies in HSBC International Track 200 league table, with the fastest growing international sales.