NEWS: GO Outdoors To Create 1000 New Retail Jobs in Two Years
GO Outdoors – the UK’s fastest growing outdoor retailer (www.gooutdoors.co.uk) – has revealed plans to create 1000 new retail jobs over the next two years starting with three new stores in West Yorkshire, the North East and the South East.
By June 2009, GO Outdoors will have opened a total of five new stores since the £18 million refinancing package set up with Bank of Scotland Corporate in Spring 2008. And the planned expansion targets a total of 30 stores by 2011.
Sheffield-based GO Outdoors will invest a total of £5 million in these three new store openings creating more than 150 new jobs in the process. The outdoor retailer's new expansion plans follow on from another two new successful store openings in the past three months in Wolverhampton and Bristol creating a further 80 new jobs.
GO Outdoors is now on target to operate 14 stores by the end of June – each store selling more than 20,000 big-brand price-guaranteed outdoor products.
John Graham, GO Outdoors managing director, said,
“We have big plans for GO Outdoors. And our next three stores in West Yorkshire, the North East and South East are an important part of those plans. The refinancing agreement with Bank of Scotland Corporate means we can now pursue a rapid controlled expansion plan.
“GO Outdoors actively seeks low-rent off-pitch locations and the money we save is passed on to our customers. That's why we guarantee to beat any price on any stock item sold by any of our competitors. The guarantee includes the biggest outdoor brands. It's not a promise we make lightly – but GO Outdoors customers know that if they buy from us they won't find it cheaper anywhere else.
“And it's not just about price. We have built a team who are passionate about the outdoors lifestyle and we encourage their enthusiasm when they advise customers – experts and novices alike.
“We are transforming the UK outdoor retail experience by opening the Whatever our customers need, we have thousands of products at guaranteed best prices perfect for everything from walking the dog to conquering K2; from camping in the lakes to cycling to work; from riding down mountain paths to going on a safari; and, from climbing the Three Peaks to fishing in Scotland.”
In 2007 GO Outdoors opened Scotland's largest outdoor retail outlet in Coatbridge - more than 70,000 square feet of retail space.
And in October 2008 GO Outdoors Bristol became the South West’s first themed 43,000 square feet outdoor superstore featuring a six-metre-high family-friendly climbing wall. In a break with traditional outdoor store layouts, customers enter the new store via a walk-through on a hand-made timber path. The themed area also features more than 4.5 tonnes of limestone fashioned into a hand-built dry-stone wall plus TV and demonstration areas for the different products.
David Hunt, director of commercial banking for Bank of Scotland Corporate in Sheffield, is a firm supporter of GO Outdoors’ philosophy and business model.
David said,
“This company is a fantastic example of a retail business that identified a niche and has stuck firmly to a winning formula through a combination of sound business practice linked to an entrepreneurial spirit. We had no hesitation in backing the business plan and the experienced management team that created it and everyone concerned is already seeing the benefits of the refinancing package”.
Stephen Ingram (partner in Ingram Forrest Corporate Finance) initially acted for the management team when GO Outdoors was the subject of a buy in management buy out in 1998. He was subsequently retained as financial advisor to the company and advised on the transfer of GO’s business to Bank of Scotland.
Stephen said,
“The term facility put in place for GO by Bank of Scotland was very well structured to support the company’s expansion plans. The robustness of the facility - as well as GO’s business model - is clearly evidenced by the current rate of new store openings.”
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